Macroeconomic Forecast Czech Republic

The Czech koruna has made broad-based gains through recent months, a trend that we expect to continue into 2011. Indeed, the Czech export-led recovery remains very much on track which leads us to conclude that the Czech National Bank will soon (Q211) begin to normalise monetary policy. This will, in our view, see the Czech koruna make gains against both the euro and the US dollar through the coming 12-months.

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