Big day for the Czech National Bank. The CNB dove, Ales Michl will likely be the successor to outgoing governor Jiri Rusnok whose term ends in June. This announcement is set to weigh on the koruna, economists at ING report.

A new central bank governor could be announced today

“EUR/CZK volatility looks assured over the next two months as the existing hawks have one last chance to express themselves at the 22 June meeting. Yet, the Czech koruna may remain fragile on a potentially big shift in direction in the second half of this year.”

“Confirmation today that Ales Michl will be the next governor could hit the koruna again.”