TNBiz (TNBiz)
Macroeconomics  |  July 20, 2012 09:50:05

CSOB Europe slows recovery


PRAGUE (MEDIAFAX) - Confidence indicators are falling all over the world, not excluding even the European countries that still has at least a few quarters of negative economic growth. On Friday, informing Prandstetter Ales, chief strategist at CSOB Asset Management.

How long the last recession in Europe will be forthcoming by next Prandstettera most government savings depend on the credit policies of banks. Stimulate the economy while allowing the next few months expected favorable development of inflation.

"The slowdown in price growth definitely offers a counterweight to the European economy stuttering. European inflation already in May fell to 2.4 percent in the coming months you can get the values ??of 0.5 to one percent. Actual inflation will depend on oil prices," said Prandstetter with the fact that any further decline in inflation would positively affect the purchasing power of households.

Economic growth in European countries and seeks to encourage the central bank, which relies on the healing crisis, low interest rates. "We can expect that central banks will continue to monitor the correct functioning of financial markets and provide support only when needed," said Prandstetter.

In contrast to the expected reduction in inflation in the short term but may due to cheaper loans from the central banks in the long run lead to the inevitable acceleration of inflation. There is the risk that the purchasing power of money out of control.

Detailed view of the Central and Eastern Europe shows that most states have to grow much. "The best is that Poland, which literally 'kicked' organizing the European Football Championship, but the question here is how the situation will develop further.The Czech Republic is due to saving the program as investors look for safe territory for their money, so the CR is capable of self-financing cheaply from the region. The opposite is Hungary, where the deepening dispute between the government and central bank and the investors are afraid that their money will come, "described the current state Prandstetter. All three countries, according to him strongly feel the effects of the crisis. On the other hand, the shares offer a very good dividend yield over five percent. This is what many investors appreciate.

Filip Sušanka, susanka@mediafax.cz

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