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Pavel & Babis Advance To Run-Off, Industrial PPI Inflation Slows More Than Forecast

CZECHIA
  • Retired army general Petr Pavel claimed victory in the first round of the Czech presidential election, narrowly defeating former Prime Minister Andrej Babis. None of the candidates managed to garner more than 50% of the vote, which triggers a run-off with the two leading candidates to be held in two weeks. Pavel is the frontrunner to win in the second round, having secured the backing of candidates who came third and fourth, which puts pressure on Babis to try and engineer a last-minute turnaround.
  • Czechia's industrial PPI rose 20.1% Y/Y last month versus +20.8% expected and +21.3% prior. The index fell 1.1% M/M, with consensus looking for a 0.6% decline after a 1.0% fall recorded in November.
  • CNB Dep Gov Zamrazilova and Finance Minister Stanjura will participate in an event to commemorate the 30th anniversary of the central bank at the top of the hour.

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