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Koruna Little Changed, Pavel Yet To Sign Off On Gov't's Pension Reforms

CZK

EUR/CZK last deals -0.006 at 24.098 and bears keep an eye on Aug 21 low of 23.977, while bulls look for gains past the 24.3 resistance zone.

  • Mlada Fronta Dnes reports that President Petr Pavel still hasn't signed the law tightening the rules for early retirement and slowing the indexation of pensions. He may discuss the matter with Prime Minister Petr Fiala during their regular meeting today. Pavel needs to sign the bill this morning in order for it to take effect at the beginning of September and affect pension hikes from January, in line with the government's plan.
  • Czechia's M2 money supply rose 9.3% Y/Y in July after an 8.1% increase in June, according to data released by the CNB.
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