Koruna Little Changed After Publication Of Advance Q4 GDP Data

EUR/CZK oscillates around neutral levels, with the release of in-line GDP data having little impact in the grand scheme of things. CZGB yields are mostly a tad higher at typing. With EUR/CZK trading -0.005 at 24.839, bears look for losses towards Jan 8 low of 24.458, while bulls still keep an eye on Jan 24 high of 24.919.

• Advance Q4 GDP figures fell in line with expectations. The report showed that the economy contracted 0.2% Y/Y in the final quarter of 2023, despite a sequential expansion of 0.2% Q/Q. The economy shrank 0.4% Y/Y in the entire 2023.
• CNB's Tomas Holub floated the idea of steeping up the pace of monetary easing at next week's Bank Board meeting, noting that policymakers will decide between a 25bp and 50bp move, as inflation is heading towards "standard" levels.
• Interior Minister Rakusan wrote on X that the government considers a buyout of minority shareholders in energy utility CEZ, before retracting those comments. CEZ shares trade 1.6% higher today, with the PX Index 0.5% better off.