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Morning Summary: Non-Essential Shops To Reopen on May 3

CZECHIA
  • Covid cases continue to fall with the 7D SMA of daily new cases dropping below the 3,000 level, down from 12,300 (early March highs). Health Minister Petr Arenberger mentioned on CNN Prima News that the country is heading towards a reopening of non-essential shops on May 3 (at the latest).
  • Czech Republic has called on fellow EU and NATO members for 'solidarity' action to support the country following the diplomatic spat between Prague and Moscow over Czech claims that Russian military agents were behind a deadly 2014 explosion at a Czech arms depot (RFE/FL).
  • Median year-end economic forecast for the CNB cash rate: 0.5% (from current 0.25%). Policymakers mentioned in March that the worsening Covid situation in Q1 could lead to a 'need to keep the monetary conditions accommodative for rather longer than in the forecast', which previously assumed 3 hikes for 2021.
  • Yesterday, Czech March industrial PPI rose more than expected to 3.3% (vs. 2.6% exp.), up from 1.4% the previous month.
  • At 1pm, President Milos Zeman will name Jakub Kulhanek as foreign minister (BBG).

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