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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.
Czech National Bank
Czech National Bank
Executive Summary:
- The CNB decided to proceed with a 75bps hike in yesterday's meeting (as expected), raising to policy rate to 4.5%
- The CNB has now entered into the last phase of the tightening cycle, with the terminal rate expected to reach 5% (at most) in Q1/early Q2 before gradually decline from H2 2022 as inflationary pressures start to ease
- The CNB lifted its 2022 inflation forecast to 8.5% (vs. 5.6% previously)
Link to full review:
The CNB decided to proceed with a 75bps hike in yesterday's meeting (as expected), levitating the policy rate to 4.5%. The policy rate is now standing above the 2008 high of 3.75%. The CNB has now entered into the last phase of the tightening cycle, with the terminal rate expected to reach 5% (at most) in Q1/early Q2 before gradually decline from H2 2022 as inflationary pressures start to ease (figure 1, left frame).
Source: Bloomberg/MNI
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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