MNI China Daily Summary: Tuesday, Aug 27

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Inflation Expected To Accelerate To 6.6% In December

CZECHIA
  • Yesterday, CNB member Ales Michl reiterated that he remains opposed to rate hikes according to Indes. Michl added that inflation may accelerate to around 10% in the near term.
  • Michl comments follow MPC Benda's recent interview where he mentioned that the CNB may raise its policy rate near to 5% to continue its fight against inflation.
  • New pandemic rules take effect in the Czech Republic on Tuesday, shorting the quarantine period for Covid-positive people and their close contacts to five days from 7-14 days required so far (BBG).
  • Next inflation update is coming out on January 12, with CPI expected to accelerate to 6.6% in December.
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