1. Czechs save mostly in building societies –analysis
(http://www.financninoviny.cz/english/zpravy/czechs-save-mostly-in-building-societies-analysis/404967)
High-level overview of article:
Czechs are rather conservative as regards saving and home-building saving is the most popular product, followed by capital insurance and life insurance, according to an analysis made by IMAS International for Erste Group, Ceska sporitelna told CTK today.
Our take:
What a refreshing change from American/Western thinking of spending more than you make. This saving is why Czechs will burst out of the blocks when they start buying property again. They have cash on hand and like to own their own property. Not invest in additional properties but own rather than rent for themselves.
2. Confidence in Czech economy down in October
(http://www.financninoviny.cz/english/zpravy/confidence-in-czech-economy-down-in-october/404571)
High-level overview of article:
Confidence in the Czech economy fell slightly in October, the composite confidence indicator dropping by 0.6 points compared with the previous month, the Czech Statistical Office (CSU) said today.
Our take:
Eternal pessimists, Czechs won’t think things are good until they catch up with their German neighbors.
3. Analysts: Czech economy to expand by up to 2% in 2010
(http://praguemonitor.com/2009/10/26/analysts-czech-economy-expand-2-2010)
High-level overview of article:
The Czech economy will grow by 1-to-2 percent next year, analysts polled by CTK said Sunday.
Our take:
Very positive to be back in growth but small comparison to previous years.
4. Analysts: Central bank likely to keep rates flat due to weak crown
(http://praguemonitor.com/2009/10/30/analysts-central-bank-likely-keep-rates-flat-due-weak-crown)
High-level overview of article:
The Czech National Bank (CNB) will leave interest rates unchanged at its policy meeting on November 5 mainly owing to the weakening of the crown in the past weeks, according to most analysts polled by CTK.
Our take:
Flat rates would be great for another year. CNB should push the banks to pass the reduced interest rates onto consumers! Very little of the interest reductions have done more than increase bank’s profit margin on lending.
Updated/Aktualizováno: July 22, 2014,