While a strong domestic economic performance calls for a hike in March, the uncertainty surrounding the external environment is likely to prevail, leaving the CNB board in wait-and-see mode. We still believe the CNB will deliver two hikes this year, but we will have to wait for the Brexit situation to calm down and for stronger signals regarding a recovery in Germany.
The UK Parliament voted twice to defy its government last week. First, they rejected the government’s negotiated terms for leaving the EU. Second, they voted that the UK cannot leave the EU without a negotiated agreement. Since the EU has declared they will not improve the terms rejected by the first vote, it appears that the UK can neither accept any agreement nor accept that there is no agreement. Brexit is, officially, an utter mess.
Ten years after the European Union vowed to produce 20 percent of its energy from renewable sources by 2020, it has made huge progress toward that goal. Now, a new challenge beckons: In 2018, the EU formally set itself a binding target to achieve 32 percent of energy from renewables by 2030.
The office market in Europe is flourishing, with 2018 total volumes at the same level as those of 2017, by far the most active year in the decade. At city level, Central London benefited from the return of activity from small and medium businesses and from the high demand from the Media Tech sector, reaching 1.4m sq m (+19% over 1 year). The four main German markets combined dropped 8% but still represented 3.04m sq m, well above the long-term average. Volumes in Central Paris diminished by 9%, notably due to the lack of very large deals (-30% in transactions over 20,000 sq m). Very high results were achieved in Vienna (+54%), Luxembourg, Lisbon (+21%), Milan and Warsaw (+10%).
FNUSA-ICRC Teams Are Involved in the Development of a New Technology by the Honeywell's Aerospace Division
The aim of the project is to develop a technology for monitoring and evaluating the state of alertness of the pilot with use in aviation. For several years, a research team at the Honeywell's branch in Brno has been working on this topic, addressing it as part of its contribution to the European Clean Sky II initiative. Technology should increase flight safety in the future and also allow new ways of organizing air transport. The Sleep Medicine research team and engineers from the Biomedical Engineering research team contribute their knowledge and equipment. The first part of the unique project, which will gather data from volunteers primarily from professional and interested pilots, took place at the beginning of February.
Strategic Directions for Czech Economic Policy
- 1) The home of value-added manufacturing
- 2) Prague-Brno-Ostrava Creative Triangle
- 3) Health Care as an export industry
- 4) Government as a competitive advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.