• Czech National Bank board left interest rates unchanged, according to expectations. Also, it indicated that new inflation forecast, published in July, is going to be important for next monetary policy direction.
• US Fed left interest rates unchanged as well, at 5.25%. Inflation, which is slowly fading away but it is still not where it should be, remains the biggest fear. Economy should keep solid growth.
• According to S&P agency, rating upgrade of Central European countries could limit inability of politicians to push through public finances and other structural reforms. Governments are not using favourable conditions for reforms, the only exception being Hungary which was pushed to reforms by unsustainable public finances.
• Inflation in Germany in June reached 1.8% y/y, according to preliminary data. Subdued wages growth limits consumer prices increase.
• Unemployment rate in France in May decreased to 8.1% from 8.2% in April and it is currently on lowest levels since 1982.