This week's macroeconomic indicators include the CNB's repo rate decision, Czech, German and US GDP, and German and eurozone inflation.
CNB board meeting on Wednesday and GDP on Friday
Before Thursday's public holiday, the domestic central bank will hold a monetary policy meeting of its board, after which a possible change in the repo rate will be announced. The market expects the CNB's monetary policy to remain unchanged and the two-week repo rate to remain at 7%.
Also, Governor Ales Michl made the following comments to the media last week, "Forget about cutting rates soon, don't expect us to cut rates in September, October and so on."
On Friday, the Czech Statistical Office will publish the final 2Q gross domestic product and the change in M2 money supply for August. GDP is expected to grow by 0.1% quarter-on-quarter and fall by 0.4% year-on-year.
US GDP and deflator, preliminary CPI developments in Germany and the euro area
The end of the week will be richer in macroeconomic indicators. On Thursday, Germany's preliminary September inflation data will be released, with the average analyst expectation being a 4.6% rise in the CPI at the same time.
The final report on US 2Q GDP growth also falls on Czech National Day on 28 September. US GDP is expected to grow by 2.2% q-o-q according to market estimates. The GDP price deflator should again show 2% growth over the same period. The state of the US economy can also be illustrated by the published personal consumption.
On Friday, an estimate of the year-on-year change in CPI for the Eurozone for September will be released, with growth expected to slow to 4.5%. Eurozone core inflation is expected to be 4.8%.