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MNI CNB Preview - March 2024: Keeping Pace

Analysts have pared back bets on a 75bp rate cut, with most expecting the CNB to deliver another 50bp reduction, as the Czech central bank presses ahead with its easing cycle.

Executive Summary:

  • Two policymakers revealed their voting preferences: Zamrazilová (25bp or 50bp) & Kubíček (50bp).
  • Lingering service price pressures and CZK weakness reduce the odds of a bolder cut.
  • Consensus looks for a second back-to-back 50bp rate cut this week as easing cycle continues.

Full preview including summary of sell-side views here:

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Executive Summary:

  • Two policymakers revealed their voting preferences: Zamrazilová (25bp or 50bp) & Kubíček (50bp).
  • Lingering service price pressures and CZK weakness reduce the odds of a bolder cut.
  • Consensus looks for a second back-to-back 50bp rate cut this week as easing cycle continues.

Full preview including summary of sell-side views here:

Keep reading...Show less