(last updated on Dec 18 with Oct retail sales)
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KEY INTEREST RATES 2-WEEK REPO DISCOUNT LOMBARD
rate 2.25 pct 1.25 pct 3.25 pct
last changed
(date of decision) Dec 17, 2008 Dec 17, 2008 Dec 17, 2008
former rate 2.75 pct 1.75 pct 3.75 pct
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CZECH GDP (in pct) Q3/08 Q2/08 Q3/07 2007
Real change yr/yr 4.2 4.6 5.8 5.9
Final consumption 2.7 2.9 4.0 3.8
Household 2.5 3.2 5.5 5.2
Government 3.7 2.4 0.3 0.4
Gross capital formation -2.0 -4.0 7.2 8.4
fixed capital formation 4.5 5.9 6.0 6.7
Foreign trade balance n/a n/a n/a n/a
exports of goods 4.0 13.4 16.8 15.7
export of services 12.7 17.4 12.8 9.6
imports of goods 1.0 9.4 15.9 15.0
imports of services 7.2 12.0 12.9 8.3
NOTE. All current data are seasonally adjusted and those from previous
quarters are revised. In the third quarter, GDP totalled 780.7 billion crowns in
seasonally adjusted constant prices of 2000.
CONSUMER INFLATION 11/08 10/08 11/07
pct change month/month -0.5 0.0 0.9
pct change year/year 4.4 6.0 5.0
NOTE: The average rate of inflation over the past 12 months was 6.5 percent
in November.
CZECH BALANCE OF PAYMENTS 10/08 09/08 10/07 01-10/08
(CZK billions)
I. CURRENT ACCOUNT -21.99 -12.10 -12.57 -82.41
Trade balance -0.63 13.74 11.48 109.45
Balance of services 5.55 6.52 3.46 71.10
Income balance -24.53 -29.83 -23.12 -256.44
Current transfers -2.37 -2.52 -4.39 -6.52
II. CAPITAL ACCOUNT 0.66 0.35 2.29 22.26
III. FINANCIAL ACCOUNT 11.61 24.88 10.88 85.22
Net Direct Investment 17.36 16.41 20.11 138.65
Czech abroad -1.28 -3.82 -1.68 -18.26
Into Czech Republic 18.64 20.23 21.79 156.90
Net Portfolio Investment -3.63 -5.80 8.16 31.11
Assets 19.84 -3.53 -17.39 -4.21
Liabilities -23.48 -2.27 25.55 35.32
Other Investments -0.24 12.39 -14.21 -44.32
Change in foreign exchange
reserves (minus = growth) -1.88 1.88 -0.59 -40.22
IV. BALANCE OF OMISSIONS &
EXCHANGE RATE ADJUSTMENTS 9.72 -13.13 -0.60 -25.07
NOTE. All 2008 figures are subject to revision. The 2007 figures are
revised. The CNB releases the monthly figures according to ECB methodology.
CZECH STATE BUDGET 01-11/08 01-10/08 01-11/07
revenue (CZK bln) 946.98 880.48 908.23
expenditure 953.49 869.54 895.46
balance -6.52 10.94 12.77
NOTE. The full-year 2008 budget was approved by parliament with a gap of
70.8 billion crowns. Following changes on June 30, the new deficit is planned at
71.34 billion crowns.
FOREIGN TRADE 10/08 09/08 10/07 01-10/08
(in bln CZK)
exports 217.45 221.70 (223.74) 243.52 2,115.04
imports 221.40 211.01 (212.86) 235.39 2,033.39
balance -3.95 10.69 (10.88) 8.14 81.65
DYNAMICS OF TRADE (pct y/y change in CZK terms)
nominal exports -10.7 4.1 (5.1) 16.1 2.4
nominal imports -5.9 5.9 (6.8) 14.3 2.4
NOTE. All data are subject to further revision. Numbers may not add up due
to rounding.
CZECH FOREX RESERVES END-NOV 08 END-OCT 08 END-NOV 07
euro bln 27.004 26.618 23.382
$ bln 34.366 33.961 34.518
CZK bln 680.760 644.957 614.005
NOTE. The central bank said it sold foreign currency worth an equivalent of
66 million euros in spot foreign exchange market operations in October. It
bought foreign currency worth 7.8 million euros in client operations in October.
CZECH M2 MONEY SUPPLY END-OCT 08 END-SEP 08 END-OCT 07
M1 change yr/yr 6.5 10.0 13.5
M2 change yr/yr 8.3 8.2 10.6
Loans to businesses
and households yr/yr 19.9 21.3 24.9
M2-M1 (deposits) yr/yr 10.8 5.7 6.7
