1) The Japanese yen today wrote off most of the significant gains it made on Wednesday evening and which, according to traders’ speculation, was contributed by forex interventions by the Japanese authorities. The dollar was depreciating roughly 0.2 percent to 154.90 USD/JPY shortly after 1:00 p.m. CET. On Wednesday evening, the Japanese currency reached as high as 153.00 USD/JPY.
2) The Banking Council of the Czech National Bank (ČNB) today reduced the base interest rate by half a percentage point to 5.25 percent. Jakub Holas, director of the CNB’s communications department, informed about it. The base interest rate thus reached its lowest level since the beginning of May 2022. Most analysts expected a rate drop in this range.
3) Activity in Russia’s manufacturing sector grew at the slowest pace in three months in April. This follows from a survey among purchasing managers, the results of which were published today by the international company S&P Global. According to the survey, production growth and the inflow of new orders slowed slightly, but remained at a high level.
4) The Organization for Economic Co-operation and Development (OECD) improved its outlook for the growth of the global economy this year to 3.1 percent, while in February it counted on growth of 2.9 percent. The organization said this in its updated outlook today. The Czech Republic will perform the worst of the countries of the Visegrad Group (V4) and is the only one of the V4 to fall behind even the OECD average, the organization predicts.
5) The inflow of foreign direct investment into Europe decreased by four percent last year, which represents the first full-year decline since the coronavirus crisis in 2020. This is reported by the consulting company EY in its study. Businesses are deterred from investing in Europe by overly volatile energy prices, uncertainty about political developments and new regulations in a range of areas from artificial intelligence (AI) to data protection.
Source: Investing.com, Bloomberg, Reuters, ČTK, S&P Global
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