The Czech central bank will likely keep interest rates on hold for the rest of 2...
PRAGUE - The Czech central bank will likely keep interest rates on hold for the rest of 2019 and probably through 2020 as the ECB and the U.S. Fed embark on looser policies, a Reuters poll of analysts suggested on Monday.
All 13 analysts interviewed in the poll forecast the Czech National Bank would make no change to the key two-week repo rate CZCBIR=ECI - which stands now at 2.00% after eight hikes since 2017, the last coming in May - when it next meets on Aug. 1. But it has given no firm commitment on a date or any clear indication what its next move might be after the lull.Two expected a hike next year in the second or third quarter while another three saw a cut, coming in either the first or third quarter of 2020. One analyst did not give an outlook.Markets, through forward rate agreements, are pricing in a chance of rate cut by the end of 2019.
The Czech economy has stayed buoyant in the face of softness in the euro zone, particularly in key trading partner Germany.
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