Czech Koruna: CNB hawkish bias supports CZK – Commerzbank
The post Czech Koruna: CNB hawkish bias supports CZK – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Tatha Ghose notes Czech headline inflation fell to 1.5% year-on-year, below Czech National Bank (CNB) forecasts, with goods and energy prices soft but services still elevated. CNB officials stress core inflation remains high and view the latest print as transitory, keeping a hawkish bias. Markets may still price one more 25bp hike in 2026, with Czech Koruna (CZK) expected to outperform Polish Zloty (PLN) in coming months. Soft CPI unlikely to derail CNB stance “June’s Czech CPI flash release showed headline inflation easing to 1.5%y/y from 2.1%y/y, clearly softer than both market expectations (1.8%y/y) and the Czech National Bank’s (CNB’s) own forecast (2.1%y/y). The price level fell by 0.3%m/m on raw basis.” “The seasonally‑adjusted and smoothed month‑on‑month rate of change is now near‑zero, as prices continue to reverse from the earlier Iran war energy spike. Goods p