CEE MARKETS-Czech crown slips as easing PPI adds to seasonal weakening
Published on: Tuesday 18 July 2023
The Czech crown continued to slip on Wednesday, leading Central European currencies lower as an easing in Czech producer price inflation added to seasonal factors while China growth concerns squeezed risk appetite. Wednesday's data showed Czech producer prices (PPI) continued to rise less slowly in June, when they rose by 1.9% year-on-year, the slowest pace since March 2021. "Further moderation reported by PPI data for June this morning might also have supported expectations that the CNB may start to ease its policy in (the) final months of 2023," said Radomir Jac, chief economist at Generali Investments CEE, referring to the Czech National Bank.
