Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 01, 2012 15:08:34

CNB intervention suggest that the situation in the economy is alarming


Czech National Bank shall, at its meeting today, the next change in interest rates. Reduce them to a new record low of 0.05%. This is most likely a minimum, what ever will see. The complete zero or negative values, the bank apparently let go, so work with interest rates for the time ends. Today's change is reflected mainly in mortgage rates, which could be reduced by a tenth of a percentage point.

Today's action but makes it clear that the situation in the economy is alarming and needs to be tackled on all fronts. Consumer demand in retail sales is still negative. In the first eight months of this year, sales fell by 0.6% traders. Household consumption thus answering and pulls down economics. Construction has not received yet from the crisis of 2009 and the industry also slows down. This is a clear indication for the fact that the current situation can not be underestimated, otherwise the economy can easily fall into the decade of stagnation like Japan in the 90 years.

Ing. Michal Kozub
Analyst
Home Credit as

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