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CZECHIA: Governor Michl Says CNB Sees Some Inflationary Risks

CZECHIA
CEEMEAEM BulletBulletGlobalEmerging Market NewsRegionCzechia

Highlights from the CNB's policy statement:

  • All seven board members voted in favour of this decision.
  • The decision is underpinned by a new macroeconomic forecast. The forecast implies a modest decline in short-term market interest rates.
  • Monetary policy nonetheless remains tight.
  • The Bank Board still sees some inflationary pressures in the economy. 
  • The Monetary Department’s forecast expects inflation to fluctuate around 2% in the months ahead and temporarily rise somewhat at the close of the year due to base effects. It will thus average 2.2% this year and 2% next year. Core inflation will remain elevated. It will average 2.5% this year and fall to 2.3% next year.
  • Czech GDP will grow by 1.2% this year and economic growth will accelerate to 2.8% next year. 

See the full release here.

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Highlights from the CNB's policy statement:

  • All seven board members voted in favour of this decision.
  • The decision is underpinned by a new macroeconomic forecast. The forecast implies a modest decline in short-term market interest rates.
  • Monetary policy nonetheless remains tight.
  • The Bank Board still sees some inflationary pressures in the economy. 
  • The Monetary Department’s forecast expects inflation to fluctuate around 2% in the months ahead and temporarily rise somewhat at the close of the year due to base effects. It will thus average 2.2% this year and 2% next year. Core inflation will remain elevated. It will average 2.5% this year and fall to 2.3% next year.
  • Czech GDP will grow by 1.2% this year and economic growth will accelerate to 2.8% next year. 

See the full release here.

Keep reading...Show less