Czech Koruna: Polish CPI surprise complicates CNB path – Commerzbank
The post Czech Koruna: Polish CPI surprise complicates CNB path – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Tatha Ghose highlights that a downside surprise in Poland’s May flash Consumer Price Index (CPI) contrasts with earlier Czech inflation acceleration that had pointed to Czech National Bank (CNB) tightening on 18 June. Softer Polish food and energy prices may foreshadow similar moderation in Czech data. This interplay makes the upcoming CNB decision more finely balanced as regional inflation dynamics shift. Polish CPI twist for Czech policy “On Friday, we wrote about the clear acceleration of Czech CPI and PPI in April, which puts pressure on the Czech National Bank (CNB) to hike rates at their 18 June meeting.” “Since then, however, Poland’s flash CPI report for May landed as a clear downside surprise. This will cool off any lingering discussion about near-term tightening by the Polish central bank (NBP) at least.” “We can see that the broader trends have bee