• British economy has recorded fastest growth for the last two years. GDP in the 4Q06 increased by 0.8% q/q and in year-on-year comparison british economy growth rate increased by 3.0%. For the whole last year Britain’s GDP increased by 2.7%.
• According to European Commission’s appraisal of Convergence program, Slovakia should make the best of fast economic growth rate to decrease public budgets deficit. Slovakia’s budget deficit reached 3.4% of GDP last year according to EC estimates.
• Slovakia’s central bank left liquidity on the market through usual repo operations. Easing monetary policy by this form it is trying to correct Slovak koruna strengthening.
• European Commission approved medium term public finances plans of Germany, France and Italy. EC also invited mentioned countries to lower deficits more aggressively and to make the best of current favourable economic environment.
• Hungary’s retail sales increased by 2.2% y/y in December after 2.3% growth in November. Retail sales turnover for 2006 increased by 4.5% y/y while in 2005 it increased by 5.6% y/y.