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EUR/CZK Remains Near CZK23.70, ANO To Try And Delay Adoption Of Austerity Measures

CZECHIA
  • Despite a slight pullback yesterday, EUR/CZK continues to trade in the CZK23.70 area, close to its two-month highs and comfortable above the CNB's CZK23.50 forecast for 2Q2023. The recent depreciation of the koruna has raised questions about the extent to which it still serves as an anti-inflationary factor at its current levels (it was last suggested by Patria Finance's Jan Bures in an op-ed for Hospodarske Noviny).
  • ANO's Shadow Prime Minister Karel Havlicek told Mlada Fronta Dnes that the main opposition party will delay the adoption of the government's fiscal consolidation package by all means, while refusing to rule out obstruction. The coalition had earlier expressed readiness to shorten the parliamentary recess to adopt the legislation beforehand.

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