Thirteen domestic and three foreign analysts took part in the May survey. The survey results show that the inflation forecast was unchanged from April at both the one-year and three-year horizons. The GDP growth estimate for this year increased slightly, whereas the outlook for next year is slightly more pessimistic according to the analysts. Only two respondents expect the 2W repo rate to stay at the current level over the next twelve months, while all the others think that monetary policy will be tightened at the one-year horizon. The forecast for the koruna exchange rate shifted to a slightly stronger level and expected nominal wage growth next year was revised down marginally.
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