• It is possible that Czech National Bank could lower interest rates, not increase them, according to CNB vice governor Miroslav Singer in interview for Hospodarske Noviny daily. Strong koruna is the reason.
• President Vaclav Klaus named new cabinet of Prime Minister Mirek Topolanek. Miroslav Kalousek became Minister of Finance. Also, Eduard Janota returns to post of Deputy Minister of Finance for budget.
• Oil supplies interruption should not cause any problems. According to Minister for Industry and Trade Martin Riman, Czech Repulic has crude oil supplies for 4 months. In case of longer Druzba pipeline interruption, supplies via Germany and Ingolstadt pipeline could be increased.
• Germany’s industrial production increased by 1.8% m/m in November after 0.8% decrease in October. Production volumes increased by 5.9% y/y.