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Czech National Bank likely to hike interest rates in June

Even if at the last session of the Czech National Bank during the presentation of a new forecast it talked about the possible growth of rates at the turn of the year, the position of the central bank has altered in the last month, noted KBC Market Research in a report.

The main reason why the central bankers are talking more and more regarding faster rate hikes is higher than anticipated inflation and, above all, the subdued koruna. The EUR/CZK exchange rate has considerably departed from the most recent CNB forecast.

“It is therefore probable that the CNB will want to increase its rates at the June session and speed up the so-called normalization of interest rates”, added KBC Market Research.

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