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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CZECHIA
- Implied vol on CZK has been surging in the past week following Ales Michl’s nomination as the new CNB governor (starting June).
- Michl announced that he expects to propose Czech rate stability for ‘some time’, which led to some CZK depreciation before starting to retrace higher following CNB comments on FX interventions.
- Interestingly, STIR market still prices in more hikes in the coming meetings, with the FRA 6Mx9M currently trading at 6.70%.
- BNP Paribas recently commented that Czech rates could peak at 7%.
- Governor Rusnk mentioned in a conference today that it is ‘still too early’ to predict Czech rate decision in June, but he expects a debate on the size of the hike at the next meeting.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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