Free Trial

More Hikes Possible At Next Meetings

CZECHIA
  • According the CNB statement, there is a possibility to see more rate hikes at the next meetings following today's surprising decision (75bps hike vs. 50bps expected).
  • 5 policymakers voted for a rate hike today
    • Dedek and Michl are likely to be the dovish ones.
  • The CNB added that the baseline forecast implied even bigger rate increase.
  • EURCZK has been trending lower following the decision, currently testing its 24.50 support.
  • The central bank raised its average inflation estimate for this year to 13.1% (vs. 8.5%) and to 4.1% for 2023 (vs. 2.3%).
  • Rusnok expects slight contraction in H2.

To read the full story

Close

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.