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Koruna Holds Onto Earlier Gains, PX Index Corrects Weekly Advance

CZK

EUR/CZK remains on the back foot, last sitting -0.052 at 24.486. The CE3 complex it broadly firmer, with HUF and PLN also among the best performers in the EMEA space.

  • The PX Index has corrected yesterday's gains registered on the back of the CNB's decision to ease lending conditions via a CCyB rate cut, which boosted local banking stocks. The index has shed ~0.3% today, snapping a four-day winning streak.
  • Czech policymakers are suggesting that the CNB is about to start the debate on when to start loosening monetary policy, with Tomas Holub noting that this should be the main theme of the debate within the Bank Board now.

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