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CZECHIA: Ukraine Headlines Under Scrutiny, Core CPI Marginally Misses CNB Est.

CZECHIA
EM BulletBulletEmerging Market NewsCentral and Eastern EuropeCzechia
  • The koruna climbed to its best levels this year on the back of the intensification of US President Trump's efforts to broker ceasefire in Ukraine. Although some geopolitical analysts argue that early concessions offered to Russia by the US may complicate achieving a favourable and lasting outcome further down the road, regional assets breathed a sigh of relief amid a perception that active fighting could pause in foreseeable future.
  • Final CPI data confirmed that inflation decelerated to +2.8% Y/Y in January. Although the reading topped the CNB's forecast by 0.3pp, core inflation at +2.5% Y/Y was 0.1pp lower than projected by the central bank. CNB staff noted that "the rate of traditional revaluation at the beginning of the year was overall slightly higher than expected in the winter forecast." Inflation is expected to "slow down in the spring months and will move in the upper half of the CNB target tolerance band this year."
  • The Chamber of Deputies lifter the immunity of far-right SPD leader Tomio Okamura amid an ongoing police investigation into his party's controversial election campaign posters. Okamura faces criminal charges for inciting hatred and discrimination.
  • The CNB will publish current account balance for December at 09:00GMT/10:00CET.
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  • The koruna climbed to its best levels this year on the back of the intensification of US President Trump's efforts to broker ceasefire in Ukraine. Although some geopolitical analysts argue that early concessions offered to Russia by the US may complicate achieving a favourable and lasting outcome further down the road, regional assets breathed a sigh of relief amid a perception that active fighting could pause in foreseeable future.
  • Final CPI data confirmed that inflation decelerated to +2.8% Y/Y in January. Although the reading topped the CNB's forecast by 0.3pp, core inflation at +2.5% Y/Y was 0.1pp lower than projected by the central bank. CNB staff noted that "the rate of traditional revaluation at the beginning of the year was overall slightly higher than expected in the winter forecast." Inflation is expected to "slow down in the spring months and will move in the upper half of the CNB target tolerance band this year."
  • The Chamber of Deputies lifter the immunity of far-right SPD leader Tomio Okamura amid an ongoing police investigation into his party's controversial election campaign posters. Okamura faces criminal charges for inciting hatred and discrimination.
  • The CNB will publish current account balance for December at 09:00GMT/10:00CET.