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Embattled Labour Min To Present Welfare System Reforms, Poll Shows ANO Remains In Lead

CZECHIA
  • Czechia's Labour Minister Marian Jurecka is due to give a presentation on proposed changes to the system of welfare payments at 09:00GMT/10:00CET, which will make state aid more targeted and directed at families. Jurecka remains under political pressure, even as he managed to cling onto the post of party leader for now. Over the weekend, he pledged to step down if his KDU-CSL party fails to win at least two MEP seats, increase the number of its Senators and grab at least one more regional governorship. As a reminder, Czechia is entering an intense phase of its election cycle this year, looking to hold the European election, regional elections and an election of one third of the Senate. They will be crucial in setting the stage for the more consequential 2025 general election.
  • The latest STEM/CNN Prima News opinion poll showed that the main opposition ANO party remains clearly in the pole position with 33.4%, trailed by Prime Minister Petr Fiala's ODS (13.2%) and the Pirate Party (11.3%). If an election was held today, the KDU-CSL party would not make it past the 5% electoral threshold.
  • The Czech National Bank (CNB) will deliver its next monetary policy decision on Thursday. The Bank Board is widely expected to cut the two-week repo rate - the question is by how much. As things stand, 14/24 economists in a Bloomberg survey have pencilled in a 25bp cut, with the rest expecting a 50bp move.

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