May 2024: This year's recovery will be gradual, growth should accelerate next year, inflation will remain at the central bank's 2% target this year and next
CBA Forecast
The CBA forecast is produced each quarter as a consensus forecast of selected domestic banks. A basic summary of the current CBA forecast in several figures and comments is outlined below, detailed information can be found in the "CBA Forecast" section.
GDP
0
% yoy
year 2024
The domestic economy will grow only slightly by 1.4% this year, by 2.7% next year
Unemployment
0
%
average in 2024
The labor market remains in good shape, although slight signs of cooling can already be seen. However, the share of unemployed people will rise only slightly this year and fall again next year.
Average wages
0
%
average in 2024
Average wages should increase by 6% this year, after two years real wages will increase again, by almost 4%
Inflation
0
%
average in 2024
Average inflation should reach 2.3% this year and next year, risks remain in the development of food prices and service prices
CNB 2-week repo rate
0
%
end of 2024
The forecast expects the CNB to continue cutting rates, which should be around 4% at the end of this year and close to 3.5% at the end of 2025.
The Crown
0
CZK/€
end year 2024
On average, the koruna will be above CZK 25 per euro this year, at the end of the year it should be slightly below this level
February 2024: The domestic economy will recover slowly this year. Growth expected to be only 1.2%, inflation close to central bank's target