April 29, 2020 / 6:20 AM / a month ago

Czech Republic - Factors To Watch on April 29

    PRAGUE, April 29 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Wednesday.
                  
    ALL TIMES GMT (Czech Republic: GMT + 2 hours)        
     
=========================ECONOMIC DATA==========================
    Real-time economic data releases.................           
    Previous stories on Czech data.............                 
  **For a schedule of corporate and economic events: 
    here
    
===========================NEWS/EVENTS==========================
    CORONAVIRUS CASES: The Czech Republic had 7,504 confirmed
cases of coronavirus infection by the end of Tuesday, with 59
new infections on Tuesday. So far 2,948 people have recovered
from the Covid-19 illness and 227 people have died.
    here
    
    UPPER HOUSE VOTES ON AID: The Senate will vote on
legislation to allow up to 150 billion crowns in state
guarantees meant to back up to 500 billion crowns in lending to
companies with up to 500 employees, the largest part of the
government's coronavirus aid efforts. 
    It will also vote on extending emergency payments to
self-employed and on raising state health insurance payments for
people outside the workforce.
        
    STATE OF EMERGENCY: The lower house of the Czech parliament
voted on Tuesday to extend a state of emergency until May 17, a
week less than the government had sought, as the country charts
a course to emerge from a coronavirus lockdown earlier than
forecast.
    Prime Minister Andrej Babis had asked for an extension until
May 25 to be able to keep restrictions on business in place. The
state of emergency was due to expire on April 30.
    The government is reluctant to end the emergency early even
though it has already reopened some shops and services over the
past week as the pace of new infections has declined.
    Babis said after the vote that the government would seek
legal amendments to keep some restrictions in place after the
state of emergency ends, news agency CTK reported.
               
      
    SIX-WEEK LOW IN INFECTIONS: The Czech Republic has reported
its lowest daily rise in new coronavirus cases in more than six
weeks as it eases out of a lockdown imposed to curb the spread
of infection.
    The number of cases rose by 41 on Monday, bringing the total
to 7,449, with 223 deaths.
               
    
    CENTRAL BANK RATES: The Czech central bank should use the
room it has to cut interest rates all the way to "technical
zero" and support fiscal easing, board member Oldrich Dedek said
in a Bloomberg interview released on Tuesday.
                
    
    MAYOR UNDER THREAT: The mayor of one of the Czech capital's
districts said on Tuesday he had been put under police
protection due to a threat that a Russian man had been sent to
kill him, escalating a row between Prague and Moscow.
    Mayor Ondrej Kolar of Prague 6 irked Russia in recent months
after his district removed a statue of Soviet World War Two
commander Marshal Ivan Konev from a square. 
               
    
    CEE MARKETS: Bond yields retreated and the forint weakened
versus the euro after Hungary's central bank left interest rates
unchanged on Tuesday, as expected, and said it would set no
target amount for its bond-buying programme.
               
    
    EUROPE POWER: European spot electricity prices fell sharply
on Tuesday reflecting a near doubling of German wind supply
while the key German curve contract for the year ahead dropped
to a three-week low as coal and oil prices sagged.
               
    
========================= PRESS DIGEST =========================
   
    NUCLEAR PLANS: Prices of market electricity will rise
substantially as capacity in Europe is cut in the coming 20
years, which will make power from a planned new nuclear source
favourable, the state point man for the plan Jaroslav Mil said.
    The government needs to work out a financing scheme because
the cost off money will be a key parameter for the project, he
said.
    here
    
    ECONOMIC DROP: The economy may drop by up to 11% this year,
analysts said. 
     here
    
    DRAUGHT: Water levels have dropped to unprecedented amounts
for this part of the year. 
    here
    
    DROP IN DEMAND FOR HOUSING: Demand for new apartments in
Prague dropped by half after mid-March.
    here
     
    
    
    
    
    
    
    
    
    (Reuters has not verified the stories, nor does it vouch for
their accuracy.)
    
    Prague Newsroom: +420 234 721 617
    E-mail: prague.newsroom@thomsonreuters.com



 (Reporting by Prague Newsroom)
  
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