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Governor Michl Says Rate-Cut Debate Could Commence In Autumn

CNB

Speaking at a press conference after the Bank Board meeting, CNB Governor Ales Michl tells reporters that the central bank could start discussing lowering interest rates in autumn, even as upside risks to the inflation outlook do not allow for a rate-cut debate at this stage.

  • The Governor adds that the Czech FX intervention regime served no purpose anymore, although a strong koruna exchange rate remains an important tool to tame inflation.
  • The official says that all options are on the table when it comes to interest-rate action if risks materialise.
  • The slides from the Governor's presentation can be accessed here.

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