February 14, 2025 09:14 GMT
CZK: EUR/CZK Rebounds After Approaching 25.0
CZK
EUR/CZK has crept higher and last trades +0.020 at 25.052. Bullish focus remains on 25.317, which capped gains on Jan 17. Conversely, bears see the round figure of 25.0 as their key initial target.
- The minutes of the CNB's most recent monetary policy meeting indicated a continued sense of concern about services price inertia, which warrants a cautious approach to further monetary easing. Jan Prochazka said that the central bank is moving from a "fine-tuning" phase of the cycle to a "micro-tuning" phase and called for bringing the policy rate to a level at which it would be possible to react to both upside and downside risks, which in his view was neither 4.00% nor 3.75%.
- CZGB yields sit higher across the curve. The PX Index gains for the seventh consecutive day, adding 0.2% this morning.
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