Poland: interest rates unchanged

NBP headquarters, Warsaw, Poland (Narodowy Bank Polski, CC BY-SA)

2017: a very good year for Czech exporters

Romania: serious irregularities at Bucharest airport

Poland

Radio Poland reports on two-days meeting of the Monetary Policy Council (MPC) which decided to leave interest rates unchanged. The reference rate is 1.5 per cent.

The Radio reminds that the last time when the MPC changed interest rates was March 2015.

In mid-2017 experts forecasted a “small hike in interest rates early next year”. Reuters quoted Mr. Eugeniusz Gatnar, who claimed that “with inflation at 1.8 per cent now and expected to near the 2.5 per cent target in early 2018, there is a growing awareness about the adverse effects of rates staying negative for too long”. At the same time, the Poland’s central bank NBP Governor Adam Glapiński commented he didn’t expect interest rates to go up until the end of 2018.

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Czech Republic

Radio Praha reports that despite the Czech’s trade surplus at the end of 2017 being a bit lower than in 2016 (in 2017 it totaled CZK152.6bn or EUR6bn), record exports were observed. As reported, exports increased by 5.6 per cent y/y and reached CZK4.2 trillion. Imports grew at even a faster pace of 6.3 per cent.

Czech experts emphasize the role of motor vehicles in the total exports. They point out that cars accounted for 20 per cent 7 years ago and in 2017 they made up 28.6 per cent of the total. The biggest exporter was Škoda Auto that sold almost 1.21 million cars globally (up 6.6 per cent y/y).

87.3 per cent of Czech goods went to the EU countries.  Export to China “jumped by a fifth” in 2017 to reach CZK56bn.

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Romania

The managers of the Otopeni airport have to face several challenges, such as: two runways with problems, irregularities at the airport’s infrastructure and irregularities in the remunerations.

The Otopeni airport, the main airport serving the Romanian capital, was controlled by a special body in January 2013 and October 2017. According to the report, although each year the airport’s budget provided sums between RON201.5m (EUR42.9m) and RON267.9m (EUR57m), no investments were made. That’s why the runway 1 “does not provide efficient landing/takeoff conditions, and runway 2 is operational on a length of only 2,237 meters out of a total of 3,500 meters”. Many managers were paid for multiple positions and some employees haven’t been seen at the office at all.

Romania Insider points out that the passenger traffic at the airport increased 17 per cent y/y in 2017.

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What’s up in indexes

BET (of Bucharest) increased from 7,991.93 index points Tuesday, February 6th to 8,021.05 index points Wednesday, February 7th. It’s up 0.36 per cent d/d and up 5.14 per cent y/y.

BUX (of Budapest) increased from 38,806.19 index points Tuesday, February 6th to 39,698.00 index points Wednesday, February 7th. It’s up 2.30 per cent d/d and up 22.00 per cent y/y.

CROBEX (of Zagreb) decreased from 1,886.91 index points Monday, February 5th to 1,842.79 index points Tuesday, February 6th. It’s down 2.34 per cent d/d and down 13.75 per cent y/y.

OMXR (of Riga) increased from 1,001.93 index points Tuesday, February 6th o 1,015.71 index points Wednesday, February 7th. It’s up 1.38 per cent d/d and up 36.10 per cent y/y.

OMXT (of Tallinn) increased from 1,255.39 index points Tuesday, February 6th to 1,271.02 index points Wednesday, February 7th. It’s up 1.25 per cent d/d and up 14.91 per cent y/y.

OMXV (of Vilnius) increased from 658.31 index points Tuesday, February 6th to 665.65 index points Wednesday, February 7th. It’s up 1.11 per cent d/d and up 17.39 per cent y/y.

PX (of Prague) increased from 1,098.60 index points Tuesday, February 6th to 1,116.66 index points Wednesday, February 7th. It’s up 1.64 per cent d/d and up 17.88 per cent y/y.

SAX (of Bratislava) decreased from 348.60 index points Tuesday, February 6th to 345.48 index points Wednesday, February 7th. It’s down 0.90 per cent d/d and up 12.22 per cent y/y.

SOFIX (of Sofia) increased from 690.59 index points Tuesday, February 6th to 701.40 index points Wednesday, February 7th. It’s up 1.57 per cent d/d and up 16.09 per cent y/y.

UX (of Kyiv) increased from 1,450.93 index points Tuesday, February 6th to 1,467.99 index points Wednesday, February 7th. It’s up 1.18 per cent d/d and up 70.48 per cent y/y.

WIG20 (of Warsaw) increased from 2,412.03 index points Tuesday, February 6th to 2,441.67 index points Wednesday, February 7th. It’s up 1.23 per cent d/d and up 17.02 per cent y/y.

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