CNB: Board voted 7-0 to hold rates, meeting inflation target still requires relatively restrictive policy at present

ForecastsAverage inflation 2.2% in 2026 (prev. 1.6%) 2.4% in 2027 (prev. 2.1%) GDP 2026 at 2.5% (prev. 2.9%) 2.7% in 2027 (prev. 2.9%) Average Exchange rate (EUR/CZK)  24.3 in 2026 (prev. 24.4) 24.4 in 2027 (prev. 24.5) Commentary Important that shocks do not filter into inflation expectations. Board will monitor impact of middle east conflict.  Inflation near target allows time to analyse reaction.  Will evaluate data at next meeting. Core inflation to move to around 3%.