Favourable Czech inflation sharpens focus on June CNB meeting
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CENTRAL AND EASTERN EUROPE: Czech inflation slowed in May, with headline, core, services and goods measures all softening. Recent hawkish signals from the Czech National Bank have prompted the market to price in a June hike. A hawkish hold as policymakers pause to assess the Horm
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4 itemsFavourable Czech inflation sharpens focus on June CNB meeting
Czech National Bank preview: Stubborn core inflation implies a rate hike
The Czech National Bank (CNB) is anticipated to implement a rate hike next Thursday, fueled by persistent core inflation despite emerging economic headwinds. Per the full note from ING, current indicators suggest that core inflation remains elevated at 2.9% as of May, driven primarily by rising service costs and rent growth. This backdrop of stubborn inflation contrasts with the team's expectation that overall inflation will hover around the CNB's target through November, indicating a nuanced approach to monetary policy challenges ahead.