CNB Minutes (May): Governor Michl said it was necessary to keep policy tight and not underestimate the cost shock from the Middle East conflict; Hawkish policy was in order
Context
The comments from Governor Michl underscore a hawkish stance, emphasizing the importance of maintaining tight policy in light of cost shocks stemming from geopolitical tensions in the Middle East. This signals a commitment to managing inflationary pressures, which may influence expectations around future rate decisions and could bolster the currency amid increased uncertainty.
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