MNI China Daily Summary: Friday, February 7

MNI: GERMANY DEC INDUSTRIAL PRODUCTION -2.4% M/M

MNI: GERMANY DEC TRADE BALANCE E20.7BLN

MNI: PBOC Net Drains CNY100.3 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1699 Fri; -1.35% Y/Y

MNI BRIEF: Fed's Waller - Dollar To Remain Reserve Currency

MNI JAPAN DEC HOUSEHOLD SPENDING +2.7% Y/Y; NOV -0.4%

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -174 BCF TO 2,397 BCF JAN 31 WK

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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CZECHIA: CNB Delivers "Hawkish Cut", Hosts Meeting With Analysts

CZECHIA
EM BulletBulletEmerging Market NewsCentral and Eastern EuropeCzechia
  • The Czech National Bank (CNB) lowered the two-week repo rate by 25bp to 3.75% in a unanimous decision and pledged caution going forward. Governor Ales Michl described the move as a "hawkish" cut and said that the room for further easing is narrowing, while interest rates may have to remain above the levels implied by baseline forecast scenario.
  • The CNB's rate decision was supported by an updated macroeconomic forecast. Senior analysts from a CNB will hold a meeting with analysts at 10:00GMT/11:00CET to discuss the new forecast. They will be joined by Bank Board's Karina Kubelkova and the meeting will be held in English (live stream here).
  • ANO's Alena Schillerova confirmed that if ANO wins the upcoming parliamentary election, she would likely return as Minister of Finance, a role she has been preparing to take on. She further confirmed that ANO would change the retirement age back to the pre-reform 65 as "in most professions people are not able to work longer".
  • Hungarian Foreign Minister Peter Szijjarto paid an unannounced visit to Prague, where he snubbed government officials and expressed his support for the opposition. Prime Minister Petr Fiala told Denik N that he did "not consider it appropriate and it is certainly not an expression of an effort towards good relations."
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  • The Czech National Bank (CNB) lowered the two-week repo rate by 25bp to 3.75% in a unanimous decision and pledged caution going forward. Governor Ales Michl described the move as a "hawkish" cut and said that the room for further easing is narrowing, while interest rates may have to remain above the levels implied by baseline forecast scenario.
  • The CNB's rate decision was supported by an updated macroeconomic forecast. Senior analysts from a CNB will hold a meeting with analysts at 10:00GMT/11:00CET to discuss the new forecast. They will be joined by Bank Board's Karina Kubelkova and the meeting will be held in English (live stream here).
  • ANO's Alena Schillerova confirmed that if ANO wins the upcoming parliamentary election, she would likely return as Minister of Finance, a role she has been preparing to take on. She further confirmed that ANO would change the retirement age back to the pre-reform 65 as "in most professions people are not able to work longer".
  • Hungarian Foreign Minister Peter Szijjarto paid an unannounced visit to Prague, where he snubbed government officials and expressed his support for the opposition. Prime Minister Petr Fiala told Denik N that he did "not consider it appropriate and it is certainly not an expression of an effort towards good relations."