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CZK: Koruna Keeps Ticking Higher Following CNB's "Hawkish Cut"

CZK
EM BulletCzech RepublicBulletEmerging Market NewsCentral and Eastern EuropeCzechia

EUR/CZK trades -0.027 at 25.059 the day after the CNB's rate decision and bears look for an attack on the 25.0 round figure, while bulls keep an eye on Jan 17 high of 25.317.

  • The CNB delivered a "hawkish cut" yesterday. Although members unanimously backed the decision to cut the two-week repo rate by 25bp, they pointed to a limited room for further easing and outlined a cautious approach.
  • CZGB yields are generally higher across the curve, with 15s underperforming as we type. The PX Index punched through the 1,900 threshold yesterday and extends gains, adding 0.4% this morning.
  • The CNB will hold a meeting with analysts at 10:00GMT/11:00CET to discuss the latest macroeconomic forecast. The meeting will be joined by Bank Board member Karina Kubelkova.
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EUR/CZK trades -0.027 at 25.059 the day after the CNB's rate decision and bears look for an attack on the 25.0 round figure, while bulls keep an eye on Jan 17 high of 25.317.

  • The CNB delivered a "hawkish cut" yesterday. Although members unanimously backed the decision to cut the two-week repo rate by 25bp, they pointed to a limited room for further easing and outlined a cautious approach.
  • CZGB yields are generally higher across the curve, with 15s underperforming as we type. The PX Index punched through the 1,900 threshold yesterday and extends gains, adding 0.4% this morning.
  • The CNB will hold a meeting with analysts at 10:00GMT/11:00CET to discuss the latest macroeconomic forecast. The meeting will be joined by Bank Board member Karina Kubelkova.