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CNB Minutes Could Draw Focus After Beginning of Easing Cycle

CZECHIA
  • Final Q3 GDP is expected unchanged at the 9am local time release (0800GMT), with Q/Q at -0.5%, Y/Y at -0.7%. The CNB minutes are also released, which may garner more focus than usual given the CNB’s commencement of the easing cycle, cutting 25bps off the peak rate of 7.00% at the December rate decision.
  • Trade unions have called for greater support for industry, with the KOVO union calling for state aid of CZK 3.5bln to energy-intensive companies to be increased, with current levels of funding insufficient to maintain a competitive environment.
  • The government focus on food prices continues, with Hospodarske Noviny writing that the Agriculture Ministry are looking to boost competition between food retailers by creating an app that compares prices of foodstuffs between different supermarkets.
  • Lidove Noviny cites banking industry data as showing that banks are “significantly” cutting rates on savings accounts to reflect the beginning of monetary easing late last year.

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