February 2024: The domestic economy will recover slowly this year. Growth expected to be only 1.2%, inflation close to central bank's target
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
Domestic economy should grow around 1.2% this year
Unemployment
0
%
average in 2024
The labour market remains in good shape, although slight signs of cooling can already be seen. However, the share of unemployed persons will increase only slightly this year.
Average wages
0
%
average in 2024
Average wages are expected to rise by 6.5% this year, and real wages will increase again after two years, by around 4% yoy
Inflation
0
%
average in 2024
Average inflation is expected to reach 2.7%, although January's lower-than-expected figure moves this estimate down by a few tenths.
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% at the end of 2025.
The Crown
0
CZK/€
year 2024
The koruna is forecast to return to stronger levels than the current levels above CZK 25 per euro and to reach CZK 24.8 per euro for the whole year.
