J. Tošovký, the Governor of the CNB, allegedly recomended to Prezident Havel that Vice Governor O. Dědek be named as his successor. However, it seems that the second Vice Governor, Z. Tůma, is more suitable for the Prezident according to last information. He is considered to be more decisive and enjoys greater authority.
The ministry of industry founded a new agency, Czechindustry. An aim of this agency will be to support the developmnet of industrial zones for attracting foreign investors. However, ministry didn´t release other information. Won´t it be another trap for public finances?
Czech koruna broke the level of 40 CZK/USD yesterday. After the third intervention of ECB Czech koruna appreciated to 39.8 againts the dollar. Anyway, as before the impact of intevention vanished quickly and Czech koruna graduately returned to 40.10 against the dollar. EUR/CZK echange rate keeps in the range 35.50 - 35.70.
Bonds rose on Monday. After bullish results in Friday's government bond auction, prices jumped up again on Monday. Again, the longest bonds were in demand, with mortgage KB issues following. Surprisingly, corporates rose by only a fraction. Tuesday might be more a quiet day, as market will be waiting for Wednesday's CPI figures to confirm bullish trend.