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ING on CNB Policy Meeting

CZECHIA
  • ING strategist Petr Krpata expects a "frontloaded CNB tightening cycle," with 25bps hikes both on June 23 and Aug. 5.
  • "This should be modestly positive for the koruna and EUR/CZK is likely to move back toward the 25.40 level. Yet more pronounced gains are unlikely also due in part to speculative positioning, which we judge to be one-way long. Short term, we prefer the forint to the koruna."

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