The Czech inflation in June surprised on the upside,…
…so the koruna strengthens
While in Poland the monetary easing cycle seems to be over, which was confirmed yesterday by two members of the Polish MPC – Chojna-Duch and Zielenska-Chlebocka, the Czech National Bank sent different signals. Its Minutes, released yesterday, showed that several board members spoke in favour of immediately commencing foreign exchange interventions (against the CZK) to ease monetary conditions on the last meeting held on June 27th. This fact primarily weighed on the Czech currency and limited its possible gains yesterday.
Read the full report: FX Daily
KBC