Governor of CNB Zdeněk Tůma expressed his concerns over inflation pressures. He warned trade unions against immoderate demands regarding wages growth in the following year. Wages should not be automatically indexed with inflation. Tůma also said that there was no need to “panic” regarding fluctuation of the Czech crown in recent months.
Pavel Řežábek from the CNB Bank Board says that rush to the Eurozone may bring problems to domestic economy. According to him, it is difficult to determine the deadline for the introduction of the Euro before the fiscal deficit has been lowered.
The German Index of Entrepreneurial Sentiment ZEW stagnated at -18.1 points in October. This is a better result than the expected -22 points.
Harmonised inflation in the Eurozone reached 2.1% in September. Consumer prices grew by 0.4% m/m. The results are in line with the expectations.
Net efflux of capital from businesses dealing with stocks reached USD 69.3b in the USA as opposed to the expected capital inflow of 60b USD. This was caused by market turbulences in August.
In line with the expectations, the American industrial output for September increased by 0.1% m/m.
According to Ben Bernanke, the real estate market will continue to slow down the USA growth. The Minister of Finance Paulso similarly stated that the house market would have negative impact on the economy and that the crisis had not ended by far.