September 26, 2024 09:31 GMT
MNI CNB Review - September 2024: Another Cautious Cut
The CNB trimmed rates by 25bp in a split decision, with one dissenter voting for a 50bp cut.
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Executive Summary:
- The Bank Board cut rates by 25bp in a split decision.
- One dissenter voted for a 50bp rate reduction.
- The Board said it will be careful about any further cuts.
Click here to see the full review:
CNB Review - September 2024.pdf
The Czech National Bank (CNB) reduced interest rates by 25bp, in line with a nearly unanimous consensus call and market pricing, even as one member dissented in favour of a 50bp cut. The Bank Board stressed that it will carefully consider any further cuts and reiterated that it stands ready to halt the easing cycle. Nonetheless, the CNB is still expected to continue cutting rates amid a relatively benign inflation outlook and with the policy rate still sitting comfortably above neutral levels.
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