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Czechia's GDP Grows 0.1% Q/Q in Q1, April S&P M'fing PMI Due Shortly

  • Czechia's GDP expanded 0.1% Q/Q in the three months through end-March, advance data showed. This comes after a 0.4% contraction in 4Q2022, with consensus looking for a 0.1% decline. The economy shrank 0.2% Y/Y versus -0.5% expected and after a 0.3% uptick in the previous quarter.
  • The focus now turns to Czechia's S&P Global Manufacturing PMI. It is expected to have edged higher to 44.5 in April from 44.3 prior, according to a Bloomberg poll of economists. Czechia's budget balance for April will be published later in the day.
  • The Czech National Bank will announce its monetary policy decision tomorrow. The Bank Board are universally expected to keep the two-week repo rate unchanged at 7.00%. Local FRA contracts have come under pressure in recent weeks, with 6x9 contracts sitting near their lowest point since the beginning of April.

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