On Thursday, the Banking Council of the Czech National Bank (ČNB) eased the rules for granting mortgages. From July, it will no longer require applicants to meet the limit of debt repayments to net monthly income (DSTI). Other rules remain in effect. Experts agree that the move will revive the mortgage market only slightly. According … Read more
The average wage in the Czech Republic increased by 7.9 percent year-on-year to 43,412 crowns in the fourth quarter of last year. However, after accounting for inflation, which reached 15.7 percent in the same period, wages decreased by 6.7 percent in real terms. It thus fell for the fifth quarter in a row, by 7.5 … Read more
People are buying less and less. They are limiting their spending more significantly than during the pandemic, when many shops were closed or access to them was difficult. November retail sales fell for the seventh month in a row, according to statistics data. The Czechs mostly dampened food purchases, on the contrary, sales of cosmetic … Read more