Economic policy / Macroeconomic Indicators, Economic Growth
This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.
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Spotlight issue
CNB stays on hold as expected but acknowledges risks
As broadly expected, the CNB left monetary policy unchanged at today's board meeting. The latest economic developments were seen as not diverging from those outlined in the latest CNB forecasts. CZK weakening was again called a natural stabiliser. We expect policy rates to remain unchanged until 1Q22. If the CNB sees the need to loosen monetary policy, we think it would do so by CZK devaluation.
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Czech industry surpasses expectations again
Czech July industrial production increased by 6% Month-on-Month. But Year-on-Year dynamics show production 5% lower, still better than analyst expectations
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Czech Republic: August inflation slightly lower
Czech inflation slowed down slightly to 3.3% from 3.4% in July, but remains elevated and is heading towards the highest average price growth since 2008. Next year, however, it should slow down amid weaker demand and a higher base from this year
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