Inflationaire Upswing and Potential Impact on Czech Republic Economy

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The world, including the Czech Republic, is flirting with the era of the second wave of inflation. At least that’s what Bloomberg data suggests, according to which the global economy experienced the strongest inflationary upswing in the past two months since last fall. While at the beginning of August the speedometer of world inflation still showed a figure below six percent, at the end of September the pace of price growth accelerated by more than half a percentage point. At the same time, the small and extremely open domestic economy is a magnet for global trends, and according to experts, the spark of inflation re-ignited primarily by the oil “shock” can jump over to the country as well. And even in an even more dramatic form; a massive inflationary undergrowth still persists in the domestic economy.

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An accumulated loss approaching half a billion crowns and a warning to investors that the company may not be able to meet its obligations under certain conditions. This is the message from the most recent report on the business of the Saunia chain and, at the same time, a major player on the domestic corporate bond market, published at the end of this September. Meanwhile, the company, indebted to a number of addresses, is still actively offering its bonds to small investors. According to Saunia, the business numbers turned for the better in the last season, but the statement cannot yet be verified from the company’s official numbers due to the dramatic delay in the flow of information towards investors.

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A seasoned portfolio manager, one of the best-known in the Czech Republic, is in charge of two equity funds at J&T Investiční spolska – Opportunity and Dividend. Michal Semotan says that due to the increase in interest rates by central banks, be it the American Fed, the European ECB, or our CNB, which are thus trying to get inflation under control, deposits and bond funds have become a major competitor to investments in shares.

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At the time she was searching for the reason why her son was suffering from allergic reactions after contact with any conventional children’s cosmetics, Barbara Paldus was still managing the scientific team at her own biotech company and viewed the beauty industry with the same confidence as any ordinary consumer. When she sold Finesse Solutions a few years later for $225 million and had over 30 US patents to her credit, she already knew that little Joseph’s sensitive skin didn’t like phenoxyethanol, the most widely used preservative in personal care products, and that the world of cosmetics had big cracks.

A one-hundred-eighty-degree turnaround in monetary policy and a new economic reality, significantly more favorable for borrowers. This is roughly the picture that the financial markets are currently portraying of the Czech Republic in a horizon that is only slightly longer than a year. According to stock market analysts, the Czech National Bank should cut its basic interest rate to almost half of the current seven percent by the end of next year, which would, among other things, dramatically reduce the cost of loans, including mortgages. However, the currently prevailing opinion of “money” on the future actions of central bankers has its loud critics, according to whom such a drastic drop in rates will simply not be possible due to persistent inflation.

Czech Television and the National Agency for Communication and Information Technologies (NAKIT), which mainly supplies the Ministry of the Interior, bought additional technology from the Chinese company Huawei. Through a local partner in the form of Altepro Solutions, the Chinese managed to succeed in public tenders for server systems for data storage. Huawei met the technical parameters and offered the lowest price at which state IT contracts are often tendered.

2023-10-07 03:30:00
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