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 Enviado - 01 agosto 2008 : 22:06:07
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Corona checa es la moneda que más se ha fortalecido a nivel mundial
por Roman Casado
RADIO PRAHA
21-07-2008
La corona checa es la moneda que ha registrado en los últimos nueve meses el mayor fortalecimiento a nivel mundial. Desde principios de año, la corona se ha fortalecido en casi un 20 por ciento frente al euro.
La cotización de la corona checa volvió a batir la semana pasada otro récord frente al euro. Por primera vez en la historia, la cotización bajó de las 23 coronas por euro, llegando el viernes a 22,99. El economista del Raiffeisenbank, Aleš Michl, resume los motivos principales que causan el brusco fortalecimiento de la moneda nacional.
“Este hecho se debe en primer lugar a los excelentes resultados conseguidos por la balanza comercial del país y la exportación de servicios. Por otro lado se trata de la transferencia de los fondos europeos, es decir, del cambio de los euros en coronas. Dichos factores generan miles de millones de euros que tienen que ser convertidos en coronas, lo que hace aumentar notablemente la demanda por la moneda checa”.
No obstante, los expertos advierten que el brusco fortalecimiento de la corona impactará negativamente en la economía del país en el futuro, según resaltó al analista Vladimír Pikora, de la empresa Next Finance.
“Los exportadores checos tendrán problemas con mantener la competitividad. Debido al fortalecimiento de la corona, los sueldos en la República Checa han aumentado en los últimos cuatro años en el 70 por ciento de acuerdo con el cambio actual en euros. Se trata de un crecimiento tan significativo, que los exportadores no serán capaces de mantener el paso con la competencia”.
El economista agregó que los exportadores se verán obligados a reducir sus plantillas y que el crecimiento de la economía se desacelerará notablemente. Pikora augura que la economía crecerá en 2008 sólo un 4,4 por ciento, es decir, un 2,2 por ciento menos en comparación con el año pasado.
Por su parte, el primer ministro checo, Mirek Topolánek, expresó que el fortalecimiento de la moneda nacional no representa una amenaza tan grave para la economía del país. El jefe del Gobierno rechazó hacer frente a dicha situación con una intervención por parte del Banco Nacional o por la anticipación del ingreso del euro en la República Checa. Topolánek reiteró que el Gobierno no tiene previsto cambiar sus planes de implantar la moneda europea en la República Checa antes del año 2012.
(http://www.radio.cz/es/articulo/106367) |
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Enviado - 18 febrero 2009 : 23:34:48
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Czech Koruna Reverses Recent Losses Against Dollar
RTT News
2/5/2009
The Czech koruna reversed direction against the dollar after touching a low of 22.20 by about 3:15 am ET Thursday. The dollar-koruna pair that closed Wednesday's trading at 22.0490 is presently quoted at 21.9850. If the Czech currency advances further, resistance is seen around the 21.85 level.
In economic news, a report by the Czech Statistical Office said the trade deficit stood at CZK 11.8 billion in December, representing an increase in the deficit by CZK 9 billion from December last year. Economists expected the trade deficit to come in at CZK 9.2 billion in the month. The statistical office said the December 2008 trade deficit was the biggest since 2003. In November, the trade deficit was CZK 474 million.
(http://www.rttnews.com/Content/CurrencyMarket.aspx?Node=b3&Id=845312) |
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Enviado - 16 abril 2009 : 15:38:42
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Czech Central Bank May Leave Benchmark Rate Unchanged on Koruna
By Andrea Dudikova and Radoslav Tomek
Bloomberg.com
March 26, 2009
March 26 (Bloomberg) - The Czech central bank will probably leave the benchmark interest rate unchanged today on concern a reduction would further weaken the koruna.
The Prague-based Ceska Narodni Banka will keep the two-week repurchase rate at 1.75 percent, according to 18 out of 23 economists surveyed by Bloomberg. Five forecast a cut to 1.5 percent. The decision is usually announced about noon, followed by a 3:30 p.m. news conference.
The koruna has weakened 2.2 percent against the euro this year and may fall further after Prime Minister Mirek Topolanek lost a parliamentary no-confidence vote on March 24. Concern about the currency may outweigh pressure to sour the faltering economy through further monetary-policy easing, economists said.
“Interest rates are likely to remain unchanged owing to exchange rate volatility, and we feel that some members of the bank board are aware of the limited impact of a further reduction,” said Jaromir Sindel, an economist at Citibank AS in Prague, in a note to clients.
The koruna has pared some losses since reaching a three- and-a-half-year low on Feb. 17 as several policy makers signaled interest-rate increases were possible. It lost almost 2 percent against the common currency after the no-confidence vote.
Political Climate
Topolanek is expected to head a caretaker government as the president decides who to pick to set up a new Cabinet. The parliament may be dissolved if three such efforts fail.
Four coalition and independent lawmakers joined the opposition parties in Prague to topple the government, which holds the European Union’s rotating presidency and tries to steer the country as the global financial crisis erodes growth.
Central bank Governor Zdenek Tuma told the Financial Times this week the economy may shrink 2 percent this year. The bank’s last forecast was for a 0.3 percent contraction in 2009.
The looming recession and prospects of slowing price growth will prompt the central bank to relax monetary policy later this year, economists said.
“If the situation on the exchange markets will calm, the Czech central bank will probably in the second quarter continue lowering interest rates due to the pressure of negative macroeconomic statistics,” said David Marek, chief economist at Patria Finance AS, in a note to clients.
The inflation rate, which topped the central bank’s mid- point target of 3 percent all of last year, fell to 2 percent in February and may slump further as one-time state-administered price increases fade, and commodity and food prices drop.
Policy makers at their last meeting on Feb. 5 cut the key rate half-a-point to the lowest level since September 2005.
The central bank said it was not certain if all seven board members will attend the policy meeting. The attendance of Pavel Rezabek was “unclear” as he will be returning from a working trip abroad, the bank said.
To contact the reporters on this story: Andrea Dudikova in Prague at adudikova@bloomberg.net; Radoslav Tomek in Bratislava at rtomek@bloomberg.net.
(http://www.bloomberg.com/apps/news?pid=20601085&sid=a5.7CCP7He3g&refer=europe) |
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Enviado - 25 mayo 2009 : 00:36:51
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Czech koruna falls to new multi-day lows against euro and dollar
RTTNews
5/12/2009
Following some disappointing economic reports, which were released from Czech at 3:00 am ET Tuesday, the Czech koruna declined to a 17-day low against the European currency and a 4-day low versus the US dollar.
The Czech Statistical Office said today in a report that the consumer price index or CPI rose 1.8% year-over-year in April, slower than the 2.3% increase in the previous month. This was the lowest annual inflation since February 2007. On a monthly basis, the CPI dropped 0.1% in April, in line with economists' expectations.
The unemployment rate for the Czech Republic rose to 7.9% in April from 7.7% recorded in March and 5.2% logged in April 2008, the Ministry of Labor and Social Affairs said today. Meanwhile, economists had expected an increase to 7.8%.
Also, a report by the Czech Statistical Office said industrial output dropped 17% year-on-year in March, after a 23.4% fall in February. Economists expected a decline of 17.5%. Month-on-month, industrial output slipped a seasonally adjusted 0.2% in March.
The Czech currency declined to a 4-day low of 19.7870 versus the greenback, compared to 19.7360 hit late New York Monday. The next downside target level for the Czech koruna is seen around 20.27.
Against the European currency, the Czech koruna edged down to 26.93 during Tuesday's early deals. This set the lowest point for the koruna since April 24. If the Czech currency falls further, 27.2 is seen as the next target level. The euro-koruna pair that closed Monday's North American session at 26.8070 is currently trading at 26.83.
The koruna that climbed to an 18-day high of 26.4130 versus the euro as the Czech Central Bank reduced its key policy on May 7 has lost around 2% since then.
The Czech National bank reduced its key policy rate by 25 basis points to 1.5%. In March, the central bank had kept the two-week repo rate unchanged at 1.75%. Economists had expected the central bank to hold the interest rate.
The central bank also reduced its discount rate to 0.50% and Lombard rate to 2.50%. The new interest rates will be effective from May 11.
(http://www.rttnews.com/Content/CurrencyMarket.aspx?Node=b3&Id=945012) |
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Enviado - 27 mayo 2009 : 23:12:35
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Czech GDP seen down 3.4 pct. in Q1
United Press International (UPI)
May 15, 2009
PRAGUE, Czech Republic, May 15 (UPI) - Czech authorities estimate the gross domestic product in the first three months of 2009 will show a 3.4 percent decline.
It would be the biggest economic quarterly drop year-on-year in the country's modern history, Prague Radio said.
Amid the global economic crisis that also hit the Czech Republic, Prague economists originally expected the GDP would shrink 2 percent in the first quarter.
Officials at the Czech Finance Ministry forecast the economic output would drop 2.3 percent for all of 2009, while in 2010 the GDP would slightly improve and rise 0.8 percent.
The country's unemployment rose from 7.7 percent in March to 7.9 percent in April, and is likely to rise to 10 percent by the year's end, the radio network said.
(http://www.upi.com/Business_News/2009/05/15/Czech-GDP-seen-down-34-pct-in-Q1/UPI-44981242418613/) |
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Enviado - 15 junio 2009 : 22:52:37
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Czech economy officially in recession
UPI.com
June 9, 2009
PRAGUE, Czech Republic, June 9 (UPI) - The Czech economy is in recession after it declined 3.4 percent in the first quarter this year when compared with the same quarter in 2008, officials said.
This was the second quarter in a row with a drop in the gross domestic product, the Czech statistics office said Tuesday. It failed to reveal the figures for the economic decline in the last quarter of 2008.
The drop in the GDP is to be mainly blamed on slowing down production such as Czech car industry.
The Czech national bank forecast the economy would drop 2.4 percent for all of 2009, Prague Radio reported.
Consumer prices inflation in May amounted to an annual rate of 1.3 percent, the lowest since January 2007, the statistics office said.
(http://www.upi.com/Business_News/2009/06/09/Czech-economy-officially-in-recession/UPI-99921244573356/) |
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Enviado - 29 junio 2009 : 13:34:12
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Czech Central Bank Surprisingly Keeps Key Rate Stable
By Radoslav Tomek
BLOOMBERG.com
June 25, 2009
June 25 (Bloomberg) - The Czech central bank surprisingly kept its benchmark interest rate unchanged as the last reduction should bolster the eastern European economy enough and a further cut risked fueling inflation.
Policy makers kept the two-week repurchase rate at 1.5 percent at their meeting today in Prague after trimming it a quarter of a percentage point last month, Ceska Narodni Banka said. Fourteen of 21 economists surveyed by Bloomberg predicted a cut to 1.25 percent.
Policy makers have slashed the benchmark rate 2.25 percentage points since June last year, seeking to thaw lending and bolster the export-oriented economy that was hurt by vanishing demand in western Europe. A further cut could cause the koruna to weaken and fuel inflation, which remains above the central bank’s forecast, economists said.
“Board members probably think that the worst of the slump is over and with expectations of inflation picking up a further reduction in rates doesn’t make much sense,” said Miroslav Plojhar, an economist at JPMorgan Chase Bank in London.
ECB Decision
Today’s decision echoes the European Central Bank’s decision on June 4 to keep its benchmark two-week rate at a record-low 1 percent, saying the worst of the recession in the 16-member bloc may have passed. The Czech central bank also defied comments by the Organization for Economic Co-Operation and Development, which said yesterday there “may be scope” for further easing, especially should the koruna remain stable.
The koruna has gained more than 2.5 percent against the euro in the past two weeks, the second-best performer among all currencies tracked by Bloomberg, reinforcing economists’ view that rates would be cut today. It was trading at 26.097 against the euro at 11:55 a.m. in Prague, down 0.1 percent from yesterday, and about 4.7 percent weaker than a year ago.
The Czech economy shrank 3.4 percent in the first quarter and is heading for its worst contraction since independence in 1993. The central bank expects the economy to shrink 2.4 percent this year, while some economists including analysts at Erste Bank expect the contraction can be as deep as 3.5 percent.
Policy maker Vladimir Tomsik said on June 11 that the worst “is almost over.” The central bank forecasts the economy will advance 1.4 percent in 2010.
Inflation Rate
The inflation rate fell to 1.3 percent in May, the lowest since January 2007, from 1.8 percent in the previous month as the economy’s decline tames price pressures. Even as the rate remains below the central bank’s target midpoint of 3 percent, it was above the levels projected in the future.
The central bank sees an inflation rate of 1.1 percent in the second quarter of next year and 1.7 percent in the third quarter of 2010, according to the latest forecast released last month.
Both Vice-Governors Mojmir Hampl and Miroslav Singer, who have said a further rate cut can’t be ruled out, were scheduled to miss today’s meeting, the central bank said. The decision was probably influenced also by their absence and one more rate cut can’t be completely ruled out in the future, JP Morgan’s Plojhar said.
(http://www.bloomberg.com/apps/news?pid=20601087&sid=aJyj_KqYRP1o) |
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Enviado - 03 julio 2009 : 18:45:21
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Czech Koruna Falls From New Multi-month High Against Dollar
RTTNews
6/30/2009
The Czech koruna that jumped to a new multi-month high of 18.3110 against the dollar at 2:25 am ET Tuesday weakened thereafter. Currently, the dollar-koruna pair is trading at 18.4170 with 18.461 seen as the next target level. At yesterday's close, the dollar-koruna pair was quoted at 18.4190.
The Czech Statistical Office said in a preliminary report today that the industrial production decreased 21.7% year-over-year in May, compared with a 22.1% fall in the previous month. Economists were looking for a decline of 18%.
(http://www.rttnews.com/Content/CurrencyMarket.aspx?Node=b3&Id=992541) |
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Enviado - 19 julio 2009 : 13:58:43
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Record number of Czech firms file for bankruptcy
Reporting by Jana Mlcochova
Editing by Mike Peacock
REUTERS
July 13, 2009
PRAGUE, July 13 - A record number of Czech companies filed for bankruptcy in the first half of 2009, research by credit agency Creditreform showed on Monday.
Czech export-oriented firms are suffering as demand for their mainly industrial goods such as vehicles and steel products has fallen by almost a quarter due to the evaporation of orders from the recession-hit euro zone.
Another problem is stricter bank lending rules, which has severely cut the flows of credit to companies. In June, a study by Czech Chamber of Commerce unveiled 76 percent of firms had to cut production due to a lack of financing.
In the first half of this year, 4,021 companies filed for bankruptcy, far above the 2,551 filings in the same period a year ago, the research showed.
June saw a total of 891 filings, the highest number of petitions submitted within a single month.
"It can be expected that by the end of August the number of filed corporate bankruptcy proposals will equal the number for the whole of 2008," the credit agency said.
A total of 5,359 institutions filed for bankruptcy in 2008, Creditreform said.
From the filings received in the January-June period 1,591 companies had been declared bankrupt so far. More than half of the submissions were rejected because the companies had no assets to distribute among creditors.
First quarter GDP shrank by a record 3.4 percent year on year and poor industrial output reading on Monday pointed to expectations for another miserable quarter.
Creditreform Czech Republic is a member of Creditreform International, which groups country offices in 20 European states and China.
(http://www.reuters.com/article/bankruptcyNews/idUSLD60969520090713) |
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Enviado - 05 agosto 2009 : 21:52:27
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Czech Koruna Plunges Against Dollar
RTT News
8/4/2009
(RTTNews) - Tuesday during early deals, the Czech koruna plummeted against the U.S. dollar after a report showed that the unemployment rate in Czech increased in the second quarter.
The Czech Statistical Office said the jobless rate according to the ILO definition stood at 6.4% in the second quarter, up 2.2 percentage points from last year. Moreover, the statistical office said the rate of change in unemployment was the biggest since 1999.
The average number of unemployed persons in the 15-64 age group increased by 44,900 compared with the first quarter to 113,800. The report said this was one of the biggest increases in unemployment throughout one quarter. Compared with the same quarter of last year, the number of unemployed fell by 16,900.
At 4:25 am ET, the Czech koruna touched a low of 17.999 against the dollar. If the Czech currency weakens further, it may likely target the 18.186 level. At yesterday's close, the dollar-koruna pair was quoted at 17.7950.
(http://www.rttnews.com/Content/CurrencyMarket.aspx?Node=b3&Id=1026441) |
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Enviado - 10 agosto 2009 : 21:13:24
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Czech central bank cuts interest rates to record low
By Polya Lesova
MarketWatch
Aug 6, 2009
NEW YORK - The Czech Republic's central bank surprised the markets Thursday by cutting interest rates to an all-time low in an attempt to pull the Czech economy out of recession.
The Czech National Bank lowered the two-week repo rate by 25 basis points to 1.25%. Most analysts expected the bank to keep rates on hold.
"The move likely reflects continuing concerns about the depth of the recession and the fact that the Czech economy, which is a geared play on Western Europe, will contract by around 4% this year," analysts at RBC Capital Markets wrote in a note to clients.
Thursday's cut is expected to be the last of the rate reductions, with the central bank now on hold for the rest of the year, they said.
In the currency markets, the euro was recently down 0.2% against the Czech koruna, while the dollar gained 0.2% against the Czech currency.
In Prague, the benchmark PX stock index rose 2.1% to end at 1,144 points on Thursday. It's up 33% this year.
"We saw room for one more rate cut given the recent worse-than-expected economic data and non-inflationary environment," said Lars Rasmussen, senior analyst at Danske Bank, commenting on Thursday's decision.
Rasmussen also expects the central bank to keep rates on hold going forward.
In economic news, the country's seasonally adjusted exports grew by 1.6% and imports fell by 1.5% in June compared with the previous month, the Czech Statistical Office reported on Thursday.
Compared with a year ago, Czech exports tumbled 15.1% and imports fell 19.3% in June.
(http://www.marketwatch.com/story/czech-central-bank-cuts-rates-to-record-low-2009-08-06) |
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Enviado - 13 septiembre 2009 : 18:53:07
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Czech Money Supply Growth Eases In July
RTTNews
31.08.2009
Monday, a report by the Czech National Bank said the M2 money supply grew 5.3% year-on-year in July, slower than a 7.1% growth in the preceding month. The money supply growth slowed for the fourth consecutive month in July.
At the same time, the M1 money supply was up 7.1% compared to a 8.7% rise in the preceding month.
(http://www.rttnews.com/Content/AllEconomicNews.aspx?Node=B2&Id=1053502)
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Enviado - 24 octubre 2009 : 20:09:11
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Czech Koruna Soars To 6-day High Against Dollar
RTTNews
10/14/2009
The Czech koruna strengthened to a 6-day high of 17.3705 against the US dollar in early deals on Wednesday. If the Czech currency advances further, it may target the 17.279 level. At yesterday's close, the dollar-koruna pair was quoted at 17.4710.
The Czech Statistical Office said retail sales at constant prices dropped an unadjusted 3.5% on a yearly basis in August, slower than a 4.9% fall in the previous month. Economists expected a 3.1% decline. This was the 11th consecutive month that retail sales fell.
After adjusting for seasonal effects, retail sales dropped 3.6% year-on-year in August. Month-on-month, retail sales fell a seasonally adjusted 0.3%.
(http://www.rttnews.com/Content/CurrencyMarket.aspx?Node=b3&Id=1092878) |
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Enviado - 08 noviembre 2009 : 00:27:23
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Czech Industrial Output Falls Further In September
RTTNews
10/30/2009
Friday, the Czech Statistical Office in a preliminary report announced that industrial production dropped 11.9% year-on-year in September. This comes after a 8.4% fall in August, and slower than economists' expectations of a 12.8% decline.
In September, industrial sales slipped 16%, and industrial new orders declined 13.8%. Registered employment in enterprises with 50 or more employees decreased by 14.7%, but average wages in these enterprises grew 6.6%.
Meanwhile, the statistical office said that after adjusting for working days, industrial output fell 9.8% year-on-year in September.
(http://www.rttnews.com/Content/EuropeanEconomicNews.aspx?Node=B2&Id=1111655) |
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L'ECONOMIA TXECA / LA ECONOMÍA CHECA
