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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Czech confidence fell, but less than expected
Czech confidence fell in March at the fastest pace since 2011, reaching the lowest level since 2013. However, data was collected in the first half of the month and understates the real impact of recent shutdowns amid Covid-19
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March: the month of interest rate cuts
We expect the Czech National Bank to cut its key repo rate by a further 50bp at its monetary policy meeting on Thursday, mainly due to the still-worsening growth outlook for the Czech economy as a result of the COVID-19 pandemic. The koruna could therefore depreciate further vs the euro, prompting the CNB to react. We do not expect it to implement quantitative easing measures, however.
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