“For the first time since mid-March last year, the koruna strengthened slightly below CZK 25.80 / EUR today,” said Jan Vejmělek, chief economist at Komerční banka.
–
According to him, the Czech currency was supported by the CNB forecast published on Thursday, which continues to indicate the need for a relatively significant tightening of monetary conditions and also expects the koruna to strengthen to CZK 25.40 / EUR before the end of the year.
–
Patria Finance analyst Tomáš Vlk pointed out that the koruna improved on Friday and is holding its gains, although the mood in the world is waning with the end of the week. “We still assume the impact of the monetary policy outlook, after the central bank needs to raise rates in the forecast, even if the expected exchange rate falls,” he added.
–
Analysts at Next Finance are also looking for an impetus to strengthen the koruna in the CNB’s forecast. “Bets on raising rates at the CNB in the second half of 2021 are therefore not declining. For the time being, this will protect the koruna from the greater weakening that the currently repurchased koruna would deserve, ”they said.
—
