Central bank lowers growth estimate for 2021, raises it for 2022

In its new forecast, the Czech National Bank has lowered its estimate of economic growth for this year, but has improved its estimate for 2022. Newly, it expects economic growth of 1.2 percent this year and growth of 4.3 percent next year.

In its February forecast, the CNB expected growth of 2.2 percent this year and growth of 3.8 percent in 2022. Central bank governor Jiří Rusnok said that the stability of market interest rates was consistent with the new forecast, followed by their rise from about June.