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All analysis from category Macro comment

Macro comment

CNB: The rapid reduction of interest rates continues

The Banking Council of the CNB decided to cut interest rates by another 50 basis points. The main two-week repo rate will drop to 5.75 percent. The central bank is reacting to the continued decline in inflation, which returned to the inflation target value in February. Lower rates are also required by the current economic situation, when GDP development oscillates between decline and weak growth.

Macro comment

Industry in January: stagnation at the beginning of the year

Industrial production stagnated in January on a year-on-year basis, deteriorated on a month-on-month basis and the start of the year did not bring any improvement in conditions.

Macro comment

Retail sales in January: growth at the beginning of the year

Retail sales had risen year-on-year for the second month in a row in January and it was therefore likely that household consumption was beginning to recover thanks to the fall in inflation.

Macro comment

Consumer prices in February: Smoldering inflation in service prices

The inflation storm may have passed. Only fuel prices and a seasonal uptick in recreation prices increased significantly in February. The consumer price index rose 0.3 percent month-on-month in February, while annual inflation slowed to 2.0 percent.

Macro comment

Foreign trade in January: worsening surplus due to exports

The trade balance ended in a surplus of CZK 3.7 billion in January, a year-on-year deterioration of CZK 4.2 billion.