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EURCZK Slightly Up Following CNB 125bps Hike

CZECHIA
  • *CZECH CENTRAL BANK RAISES KEY RATE BY 125 BASIS POINTS TO 7% (BBG)
  • EURCZK is slightly up following the decision, but continues to trade within the 24.67 - 24.77 range.
    • Key resistance to watch above 24.77 stands at 24.9250 (200DMA).
  • CNB will hold press conference at 3.45pm CET; it will be Governor Rusnok last press conference, then Ales Michl will take over as new head in July.
  • Investors will focus if CNB will comment on policy outlook with the new board composition (though details about further hikes are not likely).

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