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1 week ago | 
bloomberg.com | Peter Laca |Krystof Chamonikolas
The Czech central bank may have to refrain form lowering interest rates any further because sticky inflation requires restrictiveBloomberg Terminal monetary conditions, according to board member Jan Kubicek. Policymakers in Prague last cut borrowing costs in May, bringing the benchmark rate to 3.5%, the lowest level since 2021. The board wasn’t in agreement then whether the reduction was the end of the easing cycle that started a year and a half ago.
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1 week ago | 
bloomberg.com | Krystof Chamonikolas
Czech Foreign Minister Jan Lipavsky in Kyiv in 2024. (Bloomberg) -- The Czech Republic’s top diplomat said his country is prepared to extend its program to deliver heavy ammunition to Ukraine into next year as Europe rushes to bolster support to Kyiv. Czech Foreign Minister Jan Lipavsky said the nation’s effort to procure ammunition globally backed by allied funding has been a “game changer” on the battlefield.
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2 weeks ago | 
bloomberg.com | Slav Okov |Krystof Chamonikolas |Andrea Dudik
Hi, this is Slav Okov in Sofia with Krystof Chamonikolas and Andrea Dudik in Prague. Welcome to our weekly newsletter on what’s shaping economics and investments from the Baltic Sea to the Balkans. You can subscribe here. When countries in the region started joining the European Union 21 years ago, accession was a watershed moment. Not only did it draw a line under the painful transition from communism, it meant huge investment and a much-coveted burgundy passport for everyone.
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2 weeks ago | 
delfi.lt | Peter Laca |Krystof Chamonikolas |Kriti Gupta |Rita Vidugirienė
„Taikydami nepriklausomą pinigų politiką, galime turėti labai žemą infliaciją labai ilgą laiką, – antradienį Prahoje vykusiame naujienų agentūros „Bloomberg“ organizuotame renginyje sakė Alesas Michlas. Pasak jo, krona gerai pasitarnavo Čekijos ekonomikai ir, būdama stipri valiuta, atlieka itin svarbų vaidmenį siekiant sutramdyti kainų augimą.
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2 weeks ago | 
bloomberg.com | Krystof Chamonikolas |Kriti Gupta
Petr Pavel(Bloomberg) -- Czech President Petr Pavel called for the country to adopt the euro as a way to help trade and avoid being left out of key decisions made by members of the currency union. With the economy already deeply integrated with the euro area, the political and public opposition to the currency switch is “emotional and irrational,” he said in an interview with Bloomberg Television. He added the benefits of keeping the koruna and an independent monetary policy were limited.
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2 weeks ago | 
bloomberg.com | Krystof Chamonikolas |Kriti Gupta
Petr Pavel June 11. (Bloomberg) -- Czech President Petr Pavel called on the US to give Europe more time and realistic goals to take care of the continent’s security and contain an increasingly aggressive Russia. European nations can’t secure a lasting peace in Ukraine without American help and President Donald Trump is right to demand that they significantly ramp up defense spending, said Pavel, a former top-ranking NATO general.
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2 weeks ago | 
bloomberg.com | Peter Laca |Krystof Chamonikolas |Kriti Gupta
Ales Michl in Prague on June 10. (Bloomberg) -- The Czech central bank governor touted the benefits of his country’s currency, saying that the koruna puts it in a better position to moderate price-growth than the euro would. “By using independent monetary policy, we are able to have very low inflation for a very long time,” Ales Michl told an event hosted by Bloomberg in Prague on Tuesday.
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3 weeks ago | 
news.bloombergtax.com | Krystof Chamonikolas
Defense company Czechoslovak Group AS said it was ready for more large acquisitions after a string of investments in the US and Europe. The Prague-based producer of heavy ammunition and combat vehicles owned by Czech billionaire Michal Strnad is “ambitious” in its expansion plans, Chief Operating Officer David Chour told reporters on Wednesday. While CSG, as the company is known, is currently reviewing multiple potential deals around the world, it wants to grow especially in the US, Chour said.
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3 weeks ago | 
news.bloomberglaw.com | Krystof Chamonikolas
Czech Prime Minister Petr Fiala picked a rising-star lawmaker from his party to become the new justice minister after her predecessor resigned over a contested Bitcoin donation to the state. Eva Decroix will assume the post on June 10, replacing Pavel Blazek. The premier told reporters on Tuesday that his government fully supported an investigation into the gift worth about $45 million that the Justice Ministry had accepted from a convicted drug dealer.
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3 weeks ago | 
news.bloomberglaw.com | Krystof Chamonikolas
Czech Prime Minister Petr Fiala picked a rising-star lawmaker from his party to become the new justice minister after her predecessor resigned over a contested Bitcoin donation to the state. Eva Decroix will assume the post on June 10, replacing Pavel Blazek. The premier told reporters on Tuesday that his government fully supported an investigation into the gift worth about $45 million that the Justice Ministry had accepted from a convicted drug dealer.
