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Inflation Accelerates To 6.6%

CZECHIA
  • This morning, CNB member Marek Mora said in an interview with Seznam that interest rates will exceed 4%, but are close to their peak. He does not think the pace of tightening will continue from May.
  • Mora added that inflation could accelerate to 9% in January.
  • This follows Benda recent comments that the CNB may raise its policy rate near to 5% to continue its fight against inflation.
  • On the other hand, Ales Michl continues to remain conservative and recently reiterated that he is opposed to further rate hikes.
  • This morning, economic data showed that inflation accelerated to 6.6% YoY in December (as expected), up from 6% the previous month.

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