• Balance of payment current account reached surplus of CZK
4.0bn in February while financial account ended in surplus of CZK
5.2bn. Net flow of foreign direct investments reached CZK
ding to expectations, ECB left interest rates unchanged. Prime reference rate remains at 3.75%. Decision was unanimous and there was no discussion on interest rates hike. Despite, meeting reassured markets expecting further tightening of monetary policy in June.
ding to Minister of Finance, Miroslav Kalousek, Czech Republic might issue another euro
bond if it is cheaper than local debt emission. In addition, MF will lower current expenditure by CZK
15.3bn so deficit reaches target of 3% of GDP.
• Trade unions of Skoda Auto refused management’s compromise proposal for wages growth and is further planning a token strike. Due to company’s importance further development can be significant for the whole economy.
• Import prices in the USA increased by 1.7% m/m in March. Export prices increased by 0.7% for the same period.
• Harmonised consumer prices index in France increased by 0.5% m/m in March while year-on-year change reached 1.2%.