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Top Central Bank Officials Speak At Seminar, Domestic Companies Call For Gas Price Cap

  • CNB Governor Michl and Vice Governor Zamrazilova participate in a seminar on inflation and monetary policy this morning. Comments from Michl were doing the rounds this morning, with the official noting that a strong Koruna should be a priority for the central bank and government. Part of the strategy to achieve this will be keeping interest rates above pre-COVID levels. Michl added that the rate-hike cycle should be paused before inflation peaks, due to the delay in monetary policy transmission.
  • Hospodarske Noviny reports that Czech companies consider the EUR275/MWh cap on gas prices proposed by the European Commission to be "extremely high" and are calling for a lower ceiling to be imposed domestically to avoid significant job cuts.
  • Radio Prague International cites comments from Chief of the General Staff Rehka who said that Czechia would actively join any conflict between Russia and NATO "from the first minute." Separately, President Zeman told lawmakers Tuesday that the participation of Czech soldiers in international missions is "irreplaceable."
  • Domestic data docket is empty today, with a Cabinet meeting scheduled for the top of the hour.

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