The CNB new forecast sees the EUR/CZK at 25.6 in 2013
The CNB Board met expectations and left its interest rates unchanged. While taking its decision, the CNB Board had a new forecast available, which unsurprisingly envisages temporarily worsened economic performance, a weaker koruna, and lower inflation. The risks to the new forecast are on the downside. Last but not least, the Czech National Bank reiterated after its Thursday meeting that it is ready to use foreign exchange interventions, “if further monetary policy easing becomes necessary”.
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