• ECB relieved EUR 95bn on the market to provide it with liquidity with further problems around US mortgage market. BNP Paribas (79 EUR, -4,75%) added some nervousness as it stopped operations of its three funds. • Mojmir Hampl, member of Czech National Bank board, announced that rates are going to rise further until the end of the year. Lower June inflation does not change view on monetary policy tightening. • Wages growth in Poland in the 2Q07accelerated to 8.9%. Compared with 1Q07 average wages declined by 2.4%. • Slovakia’s inflation in July reached 2.3% y/y while month-on-month prices remained flat. Results are slightly below expectations. • Latvia’s GDP growth in the 2Q07 reached 11.3% and it is the highest in the EU. Rapid growth is connected with economy overheating and pushed inflation up as it reached 9.5% in July. • Chinese economy surplus in July grew further to USD 24.4bn from June’s USD 26.9bn. In year-on-year comparison surplus is by 40% higher.