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September 25, 2018

IronFX, Heads up for CNB’s repo rate decision

What to expect? Interest Rate decision by Czech Republic’s CNB.

This article is originally referred from IronFX News.

On Wednesday the 26th of September (11:00, GMT), Czech Republic’s CNB is expected to announce its interest rate decision.

Currently CZK OIS imply a probability of 85.66% for the bank to cut rates by 25 basis points and reach as low +1.00%, however we reject this scenario.

The Czech economy enjoys rather favorable financial indicators, an inflation rate at +2.5% yoy, low unemployment 3.1% and a healthy GDP growth rate of +2.4% yoy, which could support the idea of a rate hike.

The bank’s past meeting minutes as well as a number of analysts support the notion for a 25 basis points rate hike towards the +1.50% level from current +1.25%.

Should the CNB deliver its third rate hike, the third in three consecutive meetings, we could see the CZK strengthening.

Original Source: IronFX News

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