ECB Rate Outlook: Ceasefire Eases Pressure but Hikes Still Expected in 2026 
Bank of Japan's Ueda Flags Low Real Interest Rates as Key Factor in Rate Hike Timing 
RBI Holds Interest Rates Steady Amid Middle East Tensions and Global Uncertainty 
RBI Clamps Down on Rupee NDF Activity, Banks Face Steeper Losses 
BOJ Rate Decision in Focus as Yen, Inflation, and Nikkei Hang in Balance 
Bank of Korea Nominee Shin Hyun-song Signals Possible Rate Hike Amid Middle East Inflation Fears 
India's Central Bank Holds Rates Amid Iran War Energy Shock 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Singapore Tightens Monetary Policy Amid Middle East War Inflation Risks 
South Korea Central Bank Signals Cautious Policy Amid Inflation and Middle East Tensions 
The Czech National Bank has prolonged its FX commitment to support the CZK until at least end-2016. The bank's board now sees a probable exit in the H1 17. Thus, the "hard" commitment (where CNB ensures the floor for the currency) now corresponds to the probable exit.
The CNB also discussed negative rates during the subsequent press conference. This depends on market circumstances, and it seems that negative rates are currently unnecessary.
The CNB's new inflationary forecast now expects a mild increase in consumer prices this year. Inflation should accelerate at year-end, and hit the 2% target in early 2017. The CNB also assumes that GDP growth will accelerate in Q4 15.
"Our view does not differ as we expect the end of the intervention regime in Q1 17. We expect CPI growth to hover over 2% next year." said Societe Generale in a research note.
