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Parliament Expected To Pass Fiscal Consolidation Package

CZECHIA
  • The Chamber of Deputies is due to vote on the government's fiscal consolidation package around 10:00BST/11:00CEST. The raft of bills is intended to reduce fiscal deficit by CZK150bn over the next two years. The coalition decided to schedule the vote even as some lawmakers were still registered to speak amid the opposition's attempt to obstruct the debate. Parliamentary leader of the ODS party Marek Benda commented that "the majority has the right to assert its majority position".
  • Prime Minister's adviser Tomas Pojar suggested that moving Czechia's embassy in Israel to Jerusalem would not pose any logistical problem. The proposal has been opposed by Foreign Minister Jan Lipavsky, even as he was the first foreign politician for visit Jerusalem after the latest attack by Hamas militants.
  • The CNB published a transcript of an October 6 interview with Tomas Holub. The policymaker refused to rule out a rate cut by the end of this year and said that subsequent inflation data will be key in determining the future rate path.
  • Czechia will publish monthly current account balance for August at the top of the hour. Bloomberg consensus looks for a deficit of CZK20.50bn after a CZK16.46bn shortfall recorded in July.
  • S&P are not expected to change Czechia's rating and outlook in the review expected after hours today.
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