The Czech National Bank’s (CNB’s) decision to leave interest rates on hold again today, at 7.00%, was accompanied by communications which leave the chances of an interest rate cut at the next meeting in December very finely balanced. At the margin, we currently think the CNB will wait until the start of 2024 before firing the starting gun on its easing cycle.
This publication has been updated with additional analysis from the post-meeting press statement and press conference.
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