Economic policy
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
Future of Prague Series: AmCham Prague Council on the university's role in an innovative city
At AmCham our aim is increase prosperity (according to our Prosperity Index) through greater business innovation (and investment). That is why we applauded the first articulation- The Country for the Future that the country's economic future was tied to its innovative capability. For the Czech Republic to be that country in the future, Prague needs to start being that city right now. And if Prague is going to be that city, the Czech Technical University in Prague will be the engine powering its performance.
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Inflation will hit 6% and the CNB will soon raise interest rates above 3%
In October, inflation rose again above the expectations of most analysts and the Czech National Bank. The main driver is the cost of housing. Year-on-year core inflation rose above 6%. In December, we expect the CNB's repo rate to increase to 3.25%.
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Inflation accelerates; CNB will raise interest rates again
At its November meeting, the CNB will continue to raise interest rates. We expect them to increase by 50bp, but the risk is higher growth. The tightening of monetary policy is justified by the development of inflation, which we expect to get closer to 6% in October. Industrial production and retail sales should show minor growth in September.
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