Lukáš Kovanda

Banks are raising interest rates on savings accounts. The growth was announced by Česká spořitelna, Trinity Bank and Air Bank

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“The CNB unexpectedly raised interest rates sharply and this is the most significant one-off increase in interest rates since June 1997, which opens up room for banks to significantly increase interest rates on client deposits,” comments Lukáš Kovanda, a member of the government’s National Economic Council and chief economist at Trinity Bank. Trinity Bank raises … Read more

Gas has risen by ninety percent, Czechs are afraid of expensive winters

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“We are monitoring the situation closely and we have prepared various reaction scenarios according to the development. This is partly due to the fact that due to higher gas consumption in the first quarter, we had to buy gas for customers at higher prices than in the past, while we did not change sales prices, … Read more

Price drama at sea. The transport of goods has become six times more expensive since the winter, the old days will not return

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Global shipping tensions peaked at the end of the holidays, when prices have risen the highest since 2010. At the same time, they continue to rise, literally from hour to hour. “Interest in goods from Asia is currently extreme, but there is little free capacity. There has been a large increase in the price of … Read more

The housing market is overheated, the latest figures show. Price growth is one of the fastest in the EU

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Year-on-year growth in house and apartment prices in the Czech Republic accelerated to 11.9 percent in the first quarter, while prices rose by 8.9 percent a quarter earlier. Among the countries of the European Union, growth was the fourth highest, as at the end of last year. Compared to the last quarter of 2020, prices … Read more

Fitch Agency confirms the Czech Republic’s rating at AA-, according to it, the country has returned to stable growth – ČT24 – Czech Television

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A credit rating is an important guide for investors, as it shows them the likelihood of properly repaying loans. It has a significant effect on the willingness of creditors to lend to the State or another entity concerned, as well as on the terms of the loan, such as the interest rate. The higher the … Read more

Commodity prices have risen too high. The world began to shield them

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“Commodity markets reacted with a decline, especially to the Fed’s statement in June about the earlier tightening of monetary policy. This caused the strengthening of the US dollar and literally washed away in many commodity markets, “says Václav Kučera, an analyst at Colosseum. Later, however, the Fed partially overturned and some speculators returned to the … Read more

The average salary exceeded 35 thousand. Income disparities are widening

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The impact of the pandemic on the labor market was smaller than expected, statistics said. The increase in the average wage was thus similar to last year. However, according to the CZSO, the data for this year’s first quarter were significantly affected by the reduction in the number of employees. The volume of wages increased … Read more

Muske’s moods frighten bitcoiners. After another word from Chief Tesla, there were deep swings

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The most famous cryptocurrency, bitcoin, traded in Asia on Monday, fell to its lowest level in three months, then began to drift again. Investors are selling cryptocurrencies in response to Sunday’s tweet by Tesla boss Elon Musk, who may indicate that the carmaker is considering selling its bitcoins. Subsequently, however, Musk refuted. In Asian trading, … Read more

Financial coup in Turkey: investors cut off the country from funding

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The flight of capital was also reflected in the ten percent fall of the Turkish lira against the euro, and partly cut off the country from foreign funding. Turkey’s creditors have begun to demand half the interest on a loan to the country. “Markets fear that Kavcioglu will go to Erdogan’s hand and keep interest … Read more

Get in debt now, it will be worse, banks whisper. Mortgages are extremely cheap

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It is almost certain that the mortgage market will break the record this year. Not enough is enough, and in the volume of loans provided, the target from 2016, when people borrowed 225.8 billion crowns for housing, will tear. Interest in mortgages is also increased by low interest rates, which fall below two percent. Bankers … Read more