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MNI INTERVIEW: CNB Leaning Towards 50BP Cut - Ex-Governor Singer

(MNI) LONDON
Former Czech National Bank governor Miroslav Singer considers the outlook for interest rates.

Sluggish growth, a strong koruna and on-target inflation mean the Czech National Bank is likely to cut interest rates by 50 basis points later this month, former governor Miroslav Singer told MNI, with the key reference rate ending the year around 100bp below its current level.

The CNB lowered the 2W repo rate by 50bp to 5.25% in May as annual CPI inflation fell 0.3% from April to 2.6%, leaving markets to ponder whether this month’s meeting will see a repeat reduction or a more cautious 25bp cut.

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Sluggish growth, a strong koruna and on-target inflation mean the Czech National Bank is likely to cut interest rates by 50 basis points later this month, former governor Miroslav Singer told MNI, with the key reference rate ending the year around 100bp below its current level.

The CNB lowered the 2W repo rate by 50bp to 5.25% in May as annual CPI inflation fell 0.3% from April to 2.6%, leaving markets to ponder whether this month’s meeting will see a repeat reduction or a more cautious 25bp cut.

Keep reading...Show less