The Czech political scene is counting wounds after the IMF meeting: the minister of interior affairs should be a clear winner, however, the contract opposition ODS sharply attacked him for being "too weak." One of the ODS's deputy chairmen said the police should have opened fire at demonstrators. These disgusting comments are aimed at boosting credentials of otherwise pretty lazy ODS officials but also show how they, witty spin doctors, analyze the public mood in the Czech Republic.
The CNB's governor should announce next week whether he stays at the CNB'S helm or whether he leaves the central bank. However, the EBRD, where Mr.Tosovsky hoped to get a vice-presidency, has not made up its mind and the governor is known as a cautious man…
The capital market was closed here in Prague on Thursday and little had been happening on Wednesday. The koruna remained almost unmoved at 35.45 CZK/EUR and 40.20 CZK/USD, bonds were rarely traded. We believe that the next week may represent e return to normal business activity.