As there are a few news, gossips surrounding a shake-iup at the CNB's board emerged again. The Czech representative at the IMF is named as a contender to the governor position, as well as some insiders. However, the current governor, Mr. Tosovsky, is not leaving yet, so it may be premature.
Fired ex-CEO of Komercni banka blamed his predecessor for a spectacular loss of CZK 8 bil. connected to a single customer. Former CEO - now a senator for the ODS - did not, allegedly indicate a problem. Poor Mr. Kollert, he was not warned…
Konsolidacni banka boldly extended further CZK 700 mil. loan to ailing Zetor. meanwhile, no foreign investor seems interested in the firm.
The koruna remained unchanged yesterday at 35.25-35.30 CZK/EUR. As the euro recovered to 0.906 USD/EUR, the koruna strengthened to 38.90 CZK/EUR. But, frankly, market is rather dull lately and moves are negligible. We have to wait until everybody's back in Prague (and London) and trading begins in earnest again.