Czech market resumes trading today, after being closed for public holiday on Friday. We are expecting more earnings reports today to hit the market. Also, calming political situation and improved global sentiment may weigh positively on the market. We just remind, that there is lot of public holidays accross the whole Europe throuoghout this week.
The Czech National Bank has raised its key interest rate by 25 bps to 2.0 %. As we ascribed high probability to such a move, this was not a surprise. Strong GDP growth and fear of higher inflation due to high energy prices can be found as main reasons behind the decision of the central bank.