1) The Banking Council of the Czech National Bank (ČNB) also kept the basic interest rate at seven percent at today’s meeting. CNB spokeswoman Petra Krmelová informed about it. The basic interest rate has been at this level since June 2022. Analysts were divided before today’s meeting of the bank board, some expected that the central bank would already start reducing interest rates due to the development of the economy.
2) In response to the decision of the Czech National Bank, the Czech currency strengthened by 12 halers to 24.50 EUR/CZK. XTB analyst Tomáš Cverna told ČTK. The koruna is thus the strongest since October 10, 2023.
3) The Bank of England left its key interest rate at 5.25 percent today, the highest level in 15 years, as expected. She announced this in a press release. At the same time, she signaled that she does not count on lowering interest rates in the near future, despite the weak prospects of the British economy. The bank is trying to get inflation under control through high interest rates.
4) Palantir reports 3Q adjusted EPS of $0.07, $0.057 was expected. Palantir shares are up more than 8 percent in response to the results.
5) The number of people without work in Germany rose by 30,000 to 2.678 million in October, according to seasonally adjusted data, which is more than expected. Today, the Federal Labor Office announced this in a preliminary report, according to which the unemployment rate increased by a tenth of a percentage point compared to September to 5.8 percent. The usual autumn recovery in the labor market is not taking place, the DPA agency reported. The head of the labor office, Andrea Nahlesová, believes that the long-term stagnation of the German economy is to blame.
Source: Investing.com, Bloomberg, Reuters, ČTK, XTB
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