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
Economic outlook: 2018: Richer households, stronger koruna
Czech economy maintains its strong momentum We have once again revised our growth outlook upwards. The Czech economy is riding the wave of recovery of its main European trading partners and investment activity has been strengthening. Moreover, capital expenditures will be supported by EU fund inflows.
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IMF interview with Central Bank Governor J.Rusnok: Czech Republic: Economy So Far So Good | Ekonom: CNB will start publishing its expectations of CZK exchange rate from February 2018
Interviews with the Governor of the Czech Central Bank Jiří Rusnok within IMF series and for the Ekonom weekly inside.
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CNB to stay on hold in a close vote
November’s bank board meeting was a surprisingly calm event (as all board members raised their hands for a 25bp hike) despite hawkish comments from some members before the meeting who suggested they would vote for a 50bp hike. Also, the forecast released in November had an unexpectedly dovish message. As the economy developed almost exactly in line with the forecast, we believe the bank board will stay on hold, in line with the recent staff prognosis. Yet, some of board members might consider monetary conditions too loose due to the weaker koruna. We thus expect the board to be split, and our call for no hike is a close one.
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