Koruna weakens but CNB rate hike not anticipated

Koruna weakens but CNB rate hike not anticipated

Published at: 2019-01-30 09:37 | Author: CIJEurope.com
The Czech koruna fell to 25.75 per euro during trading on Tuesday, wiping out the gains it made against the European currency last week. The trend takes it further from the predictions of the Czech National Bank, which continues to overestimate the strength of the currency. Market watchers do not anticipate that the bank will increase interest rates at the upcoming meeting of its currency council but another hike in at least one of the future meetings is looking increasingly likely. Vojtěch Benda, a member of the currency council, says the economy could withstand another one or two rate rises.

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