Czech National Bank

Where is the housing market headed? The scenario from the financial crisis is not repeated, but the developers are dangerously holding back

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Where is the housing market headed? The scenario from the financial crisis is not repeated, but the developers are dangerously holding back

After years of prosperity and seemingly insatiable demand, even developers in Prague found themselves in a difficult situation. The housing market has frozen due to expensive mortgages, while construction costs have skyrocketed due to inflation, expensive energy and more expensive bank financing. The result: the biggest players on the market are suspending projects, or at … Read more

Special for a regular thousand. The popular banknote exchange is starting, you can make money on it

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Special for a regular thousand. The popular banknote exchange is starting, you can make money on it

From Wednesday, people can exchange money at all branches of the Czech National Bank (ČNB) for special thousand crowns, which commemorate the 30th anniversary of the Czechoslovak monetary separation. In the past, a similar event by the central bank was of great interest to the public, with long queues for the exchange of 100 kroner … Read more

Czechs now prefer expensive purchases. Retailers’ sales have fallen for the seventh month in a row

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Czechs now prefer expensive purchases. Retailers’ sales have fallen for the seventh month in a row

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