Market Report, "Czech Republic Business Forecast Report Q1 2014", Published
The Czech National Bank (CNB)'s decision on November 7 to intervene in the foreign exchange market has led us to adjust our expectations for the CNB's monetary policy trajectory for 2014-2015. We now expect the authorities to continue with FX intervention through the course of 2014, and to begin hiking rates in 2015. At the same time, we reiterate our view that both demand-side and supply side disinflationary pressures have run their course in Q413.
View full press release