Economic policy / Macroeconomic Indicators, Economic Growth

This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.

Spotlight issue

21st June 2021 / Economic policy / Macroeconomic Indicators, Economic Growth


PM Babiš: The Czech Republic is the best place in Europe for investment

On June 17, members of AmCham Board of Directors asked Prime Minister Andrej Babiš and Vice-PM Minister of Industry and Trade Karel Havlíček questions related to key factors for recovery of the Czech economy, what is the government’s outlook and how the government can embrace the factors. Moderated by Michal Nebeský of Citi bank, AmCham Vice-President. Q&A session driven by Michal Chour of Alcron Hotel Prague, AmCham President, and Weston Stacey, Executive Director of the American Chamber of Commerce in the Czech Republic.
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18th June 2021 / Economic policy / Macroeconomic Indicators, Economic Growth


June rate hike likely to signal CNB’s readiness to fight inflation

The Czech National Bank (CNB) is likely to raise interest rates next Wednesday. This follows on from statements made by the bank board, indicating that five of the seven board members voted for a rate hike in June. According to the central bankers, inflation remaining above the two-percent target for more than two years is the main reason for early policy tightening. They especially mention a possible adverse impact on inflation expectations. A 25bp increase in June should therefore signal that the CNB is ready to fight higher inflation. However, we do not expect the repo rate to move above 1% at the end 2021.
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10th June 2021 / Economic policy / Macroeconomic Indicators, Economic Growth


Inflation is slowing due to lower food prices

Contrary to expectations, inflation slowed in May and returned to the CNB forecast in year-on-year terms. The main reason for the slowdown in inflation was the fall in food prices. On the other hand, prices of services rose after the easing of anti-epidemic measures, and core inflation accelerated slightly month-on-month. Despite slower headline inflation, speculations about an early increase in CNB interest rates are unlikely to fall significantly.
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Members of the American Chamber of Commerce in the Czech Republic