• Today, Hyundai Motor is going to officially launch construction of new plant in Nosovice in Northern Moravia. In fact, construction works started on 21 March. Investments to the new factory should reach
CZK 28bn.
• Consumers’ confidence in the USA, measured by Conference Board index, decreased to 104.0 in April from 108.2 in March and reached its lowest level since last year’s August.
• National Bank of Slovakia lowered its prime rate by 25bps to 4.25%. Narrowing of interest rate differential against
eurozone should ease pressures for Slovak
koruna exchange rate strengthening.
• Also, Slovak central bank amended its forecast for GDP growth for this year to 8.9% from 8.6%. Forecast for next year was changed from 6.2% to 7.4%. Inflation should decelerate to 1.3% until the end of the year and it should reach around 2.0% next year.
• Royal Bank of Scotland, Santander and
Fortis together offered EUR 72bn for
ABN Amro. Offer is EUR 5bn higher than Barclays proposal.