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- CNB to turn starkly hawkish if required, supporting the Czech koruna – Commerbzank
CNB to turn starkly hawkish if required, supporting the Czech koruna – Commerbzank
The Czech National Bank (CNB) is expected to raise policy rates by 50bps to 5.50%. In the view of economists at Commerzbank, the CNB is not adopting an entirely hawkish stance but markets are convinced that the central bank will turn decisively hawkish if required, supporting the koruna.
CNB to hike rate by 50b
“For now, it appears likely that the same 5-2 voting pattern, which we observed on 31 March, will repeat today – in favour of the same 50bp rate hike.”
“CNB's current stance does not fall into a particularly hawkish category, in our view – but, the Czech koruna is well supported because the FX market remains convinced that CNB will turn starkly hawkish and abandon signals of ending its tightening cycle, if and when required.”
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