• Fitch Ratings Agency confirmed its credit reliability of the Czech Republic at “A”. Credit rating in local currency remained at “A+”. Outlook rating remains stable.
• Czech Republic will limit investments to roads and railways in the following years. This year, the State Fund for Transport Infrastructure budget should reach CZK
59bn while next year it should decline to CZK
50bn and in 2009 to CZK
45bn, according to Minister of Transport Ales Rebicek. According to SFTI director Pavel Svagr, there is need for investment of CZK
100bn every year.
• Interest rates growth in euro
zone will most probably stop at 4.25%, according to General Secretary of OECD Angel Gurria. According to him, the inflation rate in euro
zone does not pose a big threat.
• Bank of England left its prime interest rate unchanged at 5.25% but expectation is that next month interest rates in Britain should rise by 25bps.
• Germany’s industrial production increased by 0.9% in February compared with previous month and by 7.5% y/y.