MNI BRIEF: US Labor Costs Increase 0.9%, Below Expectations

MNI BRIEF: ADP's Richardson Sees Normalizing US Labor Market

CANADA FLASH Q2 GDP ANNUALIZED +2.2%

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Some Bank Board Members Suggest Rate Cuts Could Start By Year-End

CZECHIA
  • The minutes of the CNB's monetary policy meeting last week showed that a "large part of the debate was devoted to the start of the process of lowering monetary policy rates". Some policymakers (Jan Prochazka, Jan Frait, Tomas Holub) suggested that rate cuts could be possible by the end of this year, albeit all emphasised the need to remain cautious and ensure that the disinflationary trend is robust. Furthermore, Eva Zamrazilova noted that the weakening of the exchange rate over the past month delivered the equivalent of monetary policy easing of around 25-50bp.
  • CNB's Karina Kubelkova told Mlada Fronta Dnes that the decision on when to start cutting interest rates is complicated by a range of uncertainties, which include energy prices and the impact of elevated inflation expectations on wage negotiations and bonuses. The official warned that "the risk of a wage-price spiral is far from gone".
  • Finance Minister Zbynek Stanjura said that the government's current fiscal consolidation package is likely the last one before the 2025 general elections. Parliament is expected to vote on the austerity measures next week.
  • Czechia's ex-auto retail sales fell 2.8% Y/Y in August versus the revised -2.1% in July and BBG median estimate of -1.9%.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market 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.