Czech PPI fell by 0.3 % y/y in April
CNB minutes signal later exit from intervention regime
Friday trading on regional FX markets felt the lack of significant stimuli. The Polish zloty and the Hungarian forint wiped out part of their Thursday losses, while the Czech koruna sticked to 27.45 against the euro. According to the CNB minutes published on Friday, board members agreed that there was high probability of intervention regime (and weak koruna) extended beyond the planned timespan. Initially, the CNB assumed that it would keep koruna´s exchange rate abovethe
27 CZK/EUR until the beginning of 2015. However, lower than expected recent inflation readings may make it modify the plan.
Read the full report: FX Daily
KBC