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Czech Central Bank Upgrades Growth Outlook, Now Expects Expansion In 2023

CNB

In the latest edition of its macroeconomic forecast, the Czech National Bank revised the GDP growth outlook for this year to +0.5% Y/Y from -0.3%. The growth projection for 2024 has been revised to +3.0% Y/Y from +2.2%.

  • The central bank sees CPI inflation at +11.2% Y/Y this year versus +10.8% projected earlier. The inflation forecast for 2024 is unchanged at +2.1% Y/Y.
  • EUR/CZK is now expected to average at CZK23.7 this year (CZK24.5 projected previously), while the forecast for 2024 has been revised to CZK24.3 from CZK24.6.

Source: CNB

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