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Michl Flags Need To Remain Hawkish, PX Index Keeps Advancing

CZECHIA
  • With Fed & ECB monetary policy decisions now in rear-view mirror, the focus turns to the CNB meeting next Thursday. Minutes before the start of the Czech central bank's media blackout yesterday, Governor Ales Michl reaffirmed its hawkish bias, noting that policymakers "need to remain hawkish" with inflation at its current levels. His comments came on the heels of remarks from other Bank Board members, who earlier this week leaned against overdone market rate-cut bets.
  • Shares in majority state-owned utility CEZ briefly rose to new monthly highs yesterday as Finance Minister Stanjura flagged plans to discuss ending a windfall tax early next year. This helped the PX Index extend its recent gains and move above its 100-DMA, while already sitting above the 50- and 200-DMAs.

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