Daily

12July2024

US inflation drop supported risk appetite

Economic Analysis | Daily

In today's Eyeopener
  
- Today, US PPI and Michigan index, CPI inflation in France and Spain
- Hennig-Kloska: decision about extending energy shield for 2025 at the end of this year
- The Sejm’s committee meets on 24 July to discuss State Tribunal motion for NBP governor 
- US CPI inflation surprised to the downside
- Zloty slightly stronger, dollar lost after US CPI, equity markets lower, debt stronger

11July2024

US CPI inflation today

Economic Analysis | Daily

In today's Eyeopener

- Today, CPI inflation data in the USA
- Czech inflation fell in June to 2.0% target, German fell to 2.2%
- Government consulting higher excise tax for tobacco, potential impact on CPI +0.2pp
- CEE currencies weaker, rates lower in Poland and in core markets

10July2024

Drought holds on

Economic Analysis | Daily

In today's Eyeopener

- Today Czech CPI inflation
- In May and June agricultural drought was present in all voivodeships
- Powell: inflation’s return to target not sure enough to start cuts
- Stronger USD and PLN, rising core yields amid weaker sentiments
 

9July2024

Two MPC members mulling cuts in 2025

Economic Analysis | Daily

In today's Eyeopener

- June’s CPI in Hungary down
- General government deficit in 1Q24 amounted to PLN2.5bn
- MPC’s Henryk Wnorowski did not rule out rate cuts in 2025, following L. Kotecki
- Strong zloty, decline of market rates and narrowing of European spreads to Bunds
 

8July2024

Surprising election results in France

Economic Analysis | Daily

In today's Eyeopener
  
- Today, German exports and Czech industrial production
- NBP projection, in our view, gives arguments for softer, not tighter monetary policy approach 
- MPC’s Kotecki: discussion on rate cuts possible in 1Q25
- Euro weaker in the first reaction to French elections, fluctuations in local rates market