Czech working-day adjusted industrial output fell by 33.7% year-on-year in April amid the worst of the coronavirus outbreak when major factories shut to prevent the spread of the disease or were hit by a huge drop in orders. The fall was the largest in records going back to 2001 and was bigger than expected by a Reuters poll of analysts which forecast a 25.0% decrease.Continue Reading

The Czech National Bank is ready to cut interest rates further if needed, though there is minimal likelihood of using negative rates, Governor Jiri Rusnok was quoted as saying in an interview with Hospodarske Noviny on Tuesday. Rusnok also reiterated quantitative easing was not on the agenda when asked about legislation in parliament that will widen the bank’s bond-buying powers.Continue Reading

The Czech crown EURCZK= retreated from a seven-year high in early trade on Thursday, as it approached a new resistance level after a blistering start to the year. The crown has been the region’s best-performing currency so far this year, boosted by speculation that rates could rise in the face of stronger inflation. On Wednesday it hit an intraday high of 25.056, its strongest in seven years.Continue Reading