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2021/09/27 / Erste Group Research

The Czech National Bank’s monetary policy decision will be the key event this week as the CNB is likely to deliver an extraordinary tightening step. Given the signals from the central bank's officials that were coming over the previous few weeks, it is highly likely that CNB will increase its key rate by 50 bp to 1.25% - its first 50bp hike since 1997. Markets expect further CNB hikes this year, but one also has to bear in mind that the pandemic still remains the key risk factor. More clarity on possible measures is expected after elections in early October, though nationwide restrictions seem unlikely. All in all, we stick to our 1.5% year-end forecast for the key rate in Czechia.

General information

AuthorErste Group Research
Date2021/09/27
Languageen
Product nameVideo
Topic in focusFX, Macro/ Fixed income
Economy in focus-
Currency in focus-
Sector in focus-
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