BOC: 40% OF FIRMS SEE +3% CPI OVER NEXT TWO YEARS

MNI China Daily Summary: Monday, April 1

MNI BRIEF: Caixin Mar Manufacturing PMI Hits One-Year High

MNI BRIEF: China To Support Belt&Road Green Finance -Ma Jun

MNI: PBOC Sets Yuan Parity Lower At 7.0938 Mon; -4.78% Y/Y

MNI: PBOC Drains Net CNY48 Bln Via OMO Mon; Rates Unchanged

MNI: US FEB CONSTRUCT SPENDING -0.3%

MNI: US ISM MAR MANUF PURCHASING MANAGERS INDEX 50.3

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RBC Expecting Another 50bps Hike on May 5

CZECHIA
  • RBC expects the CNB to deliver another 50bps hike to 5.50% (in line w/ consensus).
  • The mixed messages from CNB members pose a downside risk to RBC view, though simultaneously, a weaker CZK, slower fiscal consolidation, and the better than expected Q1 GDP print pose upside risks, including to RBC terminal rate estimate.
  • The focus in the forward guidance will be on how much more space to hike (if any) and how soon rate cuts may come.
  • On the former, RBC has been expecting the CNB’s terminal rate to come in at 5.50%.
  • On the latter, the CNB is unlikely to signal that cuts will be soon, even if the new forecasts continue to show rate cuts this year.
  • Meanwhile, President Zeman noted over the weekend that he is close to choosing the next CNB Governor (Rusnok’s term expires at end-June).
BulletEM BulletEmerging Markets NewsHomepage
BulletEM BulletEmerging Markets NewsHomepage

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.