Yesterday's announcement of today's meeting of the CNB's governor Z. Tuma,
Premier V. Spidla and Finance Minster B. Sobotka on the questions of an
economic growth, taxes, the koruna's exchange rate heightened nervousness on
the market. The koruna slid from 30.120 in the morning to the level of
30.400 per euro, where also closed. Due to today's meeting and upcoming Bank
Board meeting we assume the koruna should weaken further. We anticipate the
EUR/CZK to be curbed between 30.380 - 30.580. This morning the EUR/CZK
opened at 30.460 and the USD/CZK at 31.180.
Premier V. Spidla at Monday's economic forum organized by daily Hospodarske
noviny expressed fears of deceleration of economic growth and called banks
to increase support to the government's economic policy aimed at growth.
Finance Minister B. Sobotka admitted that the cabinet has limited powers to
influence banks. He said, that a premier's opinion was an important issue
and bank should pay close attention to it. The EIB loan for food damage will
be in korunas.
open max min cls open 24/9
EUR/CZK 30.120 30.400 30.035 30.400 30.460
USD/CZK 30.750 30.900 30.470 30.900 31.180
Stepanka Kuzilkova, Investment Research, CSOB