Sep 25
Czech Republic: On hold, but more cuts in the pipeline
The Czech central bank (CNB) today decided to keep its key policy rate unchanged at 3.50% - this was in line with our expectation and consensus forecasts. CNB gave no comment on its decision but is scheduled to hold a news conference at CEST 14.00. Consumer inflation soared over the last year - see chart below - due to rising food and energy prices, an easing of rent regulations, and tax hikes. Latest data show that inflation was 6.4% y/y in August, and we expect it to drop to the central
