Sales in retail trade increased by 4.0%, year-on-year, in September. Higher sales were achieved by all assortment types of stores under measurement except those specialized in food and beverages. Figures are better than expected and did not confirm worries about weakness of the domestic demand. Thus, expectations about early rate cut by CNB should be diminished. Consecutively, we expect a correction of market expectations and successive fall of bond prices.
(David Marek)