Overview of the latest economic events in the Czech Republic
Fuel in the Czech Republic became cheaper last week. According to the company's data CCS the average price of Natural 95 petrol fell by 13 cents to CZK 34.01 per litre. Diesel has become even cheaper, by 33 cents, and drivers now pay an average of CZK 32.98 per litre. Analysts expect the trend of cheaper prices to continue in the coming weeks, thanks to the stable price of oil on world markets and the slight appreciation of the Czech koruna. Banks and building societies in the Czech Republic reported a strong July, with the Czech Banking Association reporting Hypomonitor provided mortgages worth 37.8 billion crowns. This represents an increase of two per cent compared to June, with new loans excluding refinancing up three per cent to 30 billion crowns. The average interest rate on new loans fell from 4.56 to 4.53 per cent, supporting demand in the property market. This positive trend is particularly evident for larger banks such as Czech Savings Bank or Commercial Bank, which report a growing interest of clients in fixations longer than five years.
Foreign investment
The most famous cryptocurrency bitcoin this morning according to the agency AFP for the first time in its history, has surpassed the $124,000, which corresponds to approximately 2.59 million crowns. Favourable legislation in the U.S. that allows larger institutional investors to enter cryptocurrency assets, as well as the strong performance of the U.S. equity markets, are contributing to the strong growth. Companies such as BlackRock or Fidelity have already announced that they are considering expanding their ETF for new cryptocurrency products, which is expected to further boost market liquidity. In the technology sector, the agency's report has attracted attention Bloomberg, that President Donald Trump's administration is in talks to possibly take a stake in the chipmaker Intel. Intel's shares responded to the news by rising more than seven percent, representing a significant shift in strategic investment in the semiconductor industry. The move could be a major boost to US technological self-sufficiency, while also influencing global investment flows, particularly from Asian suppliers.
Significant events outside the Czech Republic with global impact
European Statistical Office Eurostat today confirmed the slowdown in economic growth in the European Union. EU gross domestic product increased by 0.2 percent in the second quarter, compared with 0.5 percent growth in the first quarter. In the euro area, growth slowed from 0.6 to 0.1 per cent. The weakening momentum is particularly evident in Germany and France, which are facing lower industrial production and weakening exports. Meanwhile, in Germany, the deadline for media company shareholder resolutions has passed ProSiebenSat.1, whether they will accept a takeover offer from an Italian group MFE-MediaForEurope from the holding of the Berlusconi family, or from a Czech investment group PPF. The result will be decided next week at the company's general meeting. Both are multi-billion euro transactions that could have a significant impact on the European media market. Global markets are also watching the US Federal Reserve's deliberations on a possible cut in the key interest rate as early as the September meeting. This move, backed by weaker inflation data, could further weaken the dollar and encourage risky assets to rise, which would also impact investments going into emerging economies, including the Czech Republic.
gnews.cz - GH
[currency_and_metal_rates]
tradingeconomics.com
Czech 
English 
Spanish 
French 
Italian 
Russian 
Chinese 
German