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Koruna Trades Flat After CNB Rate Decision

CZK

EUR/CZK treads water, consolidating gains registered in reaction to the CNB's rate decision yesterday. The central bank cut interest rates by 25bp for the first time in more than three years, albeit Governor Michl said that a cautious approach is warranted with risks still being "modestly inflationary".

  • The pair trades flat at 24.575 at typing. Topside technical focus falls on Oct 26, 2023/Jul 7, 2022 highs of 24.747/24.797. Bears look for a dip through Nov 29 low of 24.203.
  • CZGB yields are a touch higher across the curve, while the PX Index is 0.1% better off.

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