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ING More Confident About Their 75bp Rate-Cut Call

CZECHIA
  • The Chamber of Deputies approved legislation widening the rights of same-sex civil partnerships, which dominated the local political agenda yesterday. Despite popular support for same-sex marriage, the push to introduce them in Czechia divided ruling coalition partners. The final shape of the legislation was a result of a compromise between the liberal (STAN, Pirates) and conservative (ODS, KDU-CSL) wings of the government.
  • ING said that yesterday's PPI data increased their confidence in a call for a 75bp cut at the next Bank Board meeting in March. They noted that the CZK has weakened significantly since the CNB's February meeting, but selling pressure seems to have eased in recent days, with profit-taking possibly playing a role here.
  • The CNB will release money supply data for the month of December at the top of the hour.

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