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Jan Prochazka Deems Dovish CNB Market Bets Overdone


Wires run comments from Bank Board member Jan Prochazka, who says that money-market bets that the CNB could start its easing cycle in September are unlikely to materialise.

  • "Those market expectations are too optimistic. I personally can't imagine that we will reach consensus to start cutting rates this year, unless some new and significant risks for the economy emerge."
  • Note that the CNB will begin its media blackout period on Thursday afternoon, a week before the announcement of its next monetary policy decision. At the CNB's June meeting, Prochazka voted for keeping rates stable.

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