Free Trial

FinMin Schillerova Urges CNB Not To Hike Rates

CZECHIA
  • Finance Minister Alena Schillerova recently urged CNB not to raise interest rates as it would increase the borrowing costs and weaken the investment needed to help the economy recover from the pandemic.
  • We saw that policymakers' tone has turned more hawkish following the positive surprise in inflation in August, with now CNB expected to raise the policy rate by 50bps on September 30.
  • USDCZK has been trending higher in the past three days, breaking above its 50DMA this morning and currently testing its 21.70 resistance; next level to watch on the topside stands at 22. On the downside, first support stands at 21.50 (200DMA), followed by 21.39 (100DMA).
  • Czech 10Y yield has been retracing higher in the past two weeks, currently testing its key resistance at 2%. Next level to watch on the topside stands at 2.2%. On the downside, first support stands at 1.91%, followed by 1.76% (50DMA).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.