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Czech Gas Stores at Record High for This Time of Year

CZECHIA
  • Stemming fears of a near-term gas crunch, Industry minister Zikela has stated that Czech gas storage tanks are now 30% full – a record high for this time of year and exceeding 1bln cubic metres.
  • In response to a demand from trade unions late last week, Industry Minister Sikela added that an increase to minimum wage would cause ‘big’ problems to both industry and trade and would mark an unfortunate step.
  • Speaking on CNN Prima, the Czech president stated he will announce the new central bank governor after final interviews have taken place. Zeman stated that he has four candidates, but has “more or less decided”. Rusnok’s term concludes at the end of June. Reports suggest the four candidates under consideration are current vice governors Nidetzky and Mora as well as CNB board member Michl and presidential adviser Dlouhy.
  • April manufacturing PMI came in ahead of expectations at 54.4 vs. Exp. 53.6 (Prev. 54.7).
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