CNB slows tightening, but more on the horizon

The Czech National Bank (CNB) slowed the pace of its tightening cycle for the third consecutive month today with a 50bp rate hike to 5.00%, but hawkish communications after the meeting suggest that the CNB is not finished yet. We now expect a 50bp hike at the Bank’s next meeting in May, as well as a further increase of 25bp in June.

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