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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CZECHIA
- This morning, economic data showed that industrial output decelerated to 1.7% in June (vs. 2.3% exp.), down from 6.3% the previous month.
- We previously saw that the sharp tightening in financial conditions in the past year has been pricing in a significant deceleration in the industrial production (see chart).
- Last week, the CNB decided to keep its interest rates steady at 7% with 5 policymakers voting for rate stability.
- Governor Michl mentioned during his press conference that he sees ‘slight’ CZK weakening and the CNB will prevent excessive CZK moves.
- Michl also reiterated that inflation remains the ‘biggest problem’ in Czech economy.
- Economic data to watch this week will be CPI inflation, expected to accelerate to 17.9% in July, up from 17.2% the previous month.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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