esk does not upset inflation in the NB

esk mna stvila cel elapsed tden in the tow of globlnho sentiment. He pushed the koruna and the koruna back below EUR / CZK 26.10, and in the second week he turned around and drove the koruna back to the starting position around EUR / CZK 26.30. Despite the sun, domestic economic events are booming the crown did not allow them to be influenced in any way and moved in a tight tandem, for example, with the Polish zloty. She could not be surprised even by the hard-hitting meeting of the Czech National Bank, which, in line with the eyes, left monetary policy unchanged. The only slight surprise was the relatively pessimistic significance of the economic forecast of the NB, which according to us, it did not manage to incorporate some positive indicators into the poet, as they howled at her back. Even those seven days will be quite rich in economic events. From the point of view of the Czech crown, things can be loaded on the ter when the ZEW index is being monitored in Germany and the euro area. This index has a historically good ability to predict economic activity and, given the interconnectedness of these areas with the Czech Republic, it also indicates the perspective of domestic economies. The data on European industrial production, which will slowly rise back to its feet after an unintended pandemic slump, will be similarly significant. Prv The death that will take over the European industry after the pandemic is at the same time a complete fate for Czech exports I also have an impact on the crown. On Thursday, they report Czech inflation, which is said to remain safe above the tolerant dog of the Czech National Bank. The central bank has recently made it clear several times that that this fact does not suffer in any way. Most recently, only the Nidetzk Bank Board came out in this spirit, saying that the NB is ready to tolerate moderate inflation in the name of helping pandemics hit the economy. For the koruna exchange rate, it could be more important, if the Czech inflation would surprise downwards, it could occur renewed speculator on mon dal mnov uvolnn. We do not anticipate this development and, on the contrary, assume that inflation accelerated in July. Author: Vt Hradil, analyst
Editor: Helena Horsk, chief economist
Tm ekonomickho vzkumu Raiffeisenbank as

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