MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

MNI DATA FORECASTS: RBA, Riksbank In Focus

MNI: US ISM JAN SERVICES COMPOSITE INDEX 55.2

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(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

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Michl Urges Industry to Contain Wage Growth

CZECHIA
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News
  • CNB governor Michl spoke over the weekend flagging that nominal wage growth across the country should be capped at around 5% across 2023 to contain any wage-price spiral threats and feed through to headline inflation.
  • Elsewhere, in a TV interview, CNB vice governor Zamrazilova outlined the view that inflation is beginning to slow and “exhaust itself” as high energy bills and interest rates are curbing consumer spending elsewhere.
  • Zamrazilova adds that households have been switching spending patterns to cheaper goods, a trend not necessarily reflected in headline inflation readings.
  • The government’s windfall tax should stand up against potential legal challenges at the constitutional court, according to the legal minister in Hospodarske Noviny.
  • Current account balance data crosses later today, with industrial PPI a focus on Wednesday.
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  • CNB governor Michl spoke over the weekend flagging that nominal wage growth across the country should be capped at around 5% across 2023 to contain any wage-price spiral threats and feed through to headline inflation.
  • Elsewhere, in a TV interview, CNB vice governor Zamrazilova outlined the view that inflation is beginning to slow and “exhaust itself” as high energy bills and interest rates are curbing consumer spending elsewhere.
  • Zamrazilova adds that households have been switching spending patterns to cheaper goods, a trend not necessarily reflected in headline inflation readings.
  • The government’s windfall tax should stand up against potential legal challenges at the constitutional court, according to the legal minister in Hospodarske Noviny.
  • Current account balance data crosses later today, with industrial PPI a focus on Wednesday.