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.
08/11/2024 15:33
At
yesterday’s meeting, the Czech National Bank cut interest rates again at a
cautious pace of 25bp, in line with expectations. In its newly published
forecast, the CNB expects growth in the Czech economy to accelerate
significantly from 4Q24 and inflation to remain above the 2% target until 2026.
Nevertheless, the CNB expects the repo rate to reach its neutral level of 3% in
2Q25. We expect the same, but with a lower GDP and inflation outlook.
Specifically, we expect a 25bp cut in the repo rate at each of the CNB’s
monetary policy meetings until May 2025. The bank’s board has continued to
stress that the next steps will depend on newly released data. In our view, the
data should point to ongoing weakness in the economy, which should be the main
reason for further monetary easing.