FX market is a global market with a very high liquidity and trade volumes. This global market is open 24/7 except for the weekends and a few selected public holidays. The interbank trades are done through electronic systems EBS and Thomson Reuters Dealing. FX market is decentralized, which means there is no central exchange and the trades are realized on the over-the-counter (OTC) basis. Komerční banka enables access to this market through dealing and KB eTrading electronic platform.
The quotes are derived from the current rates on the interbank market. The bid-offer spread represents the spread for a typical client trade.
Exchange rates list states the rates at which it is possible to buy or sell foreign currencies for Czech Crowns at any KB branch in cash (banknotes) or cashless transactions.
21/03/2024 13:21
At its
March meeting yesterday, the Czech National Bank cut interest rates by a
further 50bp and confirmed its determination to continue easing only gradually.
The main reasons for this are the weaker koruna and continued rapid rise in
services prices. According to Governor Michl, these two factors will determine
the future course of interest rates. We expect them to be lowered by 50bp at
the May, June and August meetings, which would reduce the current mismatch
between interest rates and economic and inflation developments. We expect the
repo rate to fall to 3.5% by the end of the year. The bank board still
considers the policy-neutral interest rate of 3% to be too low. In this
context, the central bank should publish an analysis of the policy-neutral level
in May.