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.
19/12/2024 18:05
At today’s meeting, the Czech National Bank, as expected,
interrupted the year-long process of interest rate cuts. This was due to the
bank board’s perception of a modestly inflationary balance of risks. According
to Governor Michl, at the next meeting (in February), the CNB is likely to
decide again between interest rate stability and further rate cut. The Governor
continues to state that the board’s next steps will depend on newly released
data. In our view, these should point to continued weakness in the Czech
economy and a decline in inflation to close to the 2% target next year. We
therefore expect further rate cuts at a pace of 25bp per meeting until June,
when the repo rate should reach the 3% terminal level. However, given the
hawkish bias of the board, the risk is that the easing could be more moderate
than we expect.