Latest news with #CzechNationalBank
Crypto Insight
6 days ago
- Business
- Crypto Insight
Czech central bank adds Coinbase to portfolio, boosts Palantir holdings
The Czech National Bank adjusted its US investment portfolio in the second quarter by increasing its stake in Palantir Technologies and initiating a new position in cryptocurrency exchange Coinbase Global. These moves were disclosed in a Form 13F filing, which is a quarterly report filed by investment managers to the Securities and Exchange Commission that discloses their US equity holdings. The filing shows the bank has added 51,732 Coinbase shares, worth over $18 million. The Czech National Bank also added 49,135 Palantir shares in the second quarter of the year, bringing its total to 519,950 by the end of June. Palantir, a data analytics firm, saw its stock surge 80% in the first half of 2025, outperforming the S&P 500's 5.5% gain. The company has benefited from strong earnings reports and growing investor interest in artificial intelligence. Coinbase joins S&P 500 Coinbase became the first crypto company to join the S&P 500 in May. The S&P 500 is a stock market index that tracks the performance of 500 of the largest, publicly traded companies in the US, representing a broad measure of the overall US stock market. The company's stock rose 41% in the first half of 2025 and gained an additional 10% in the following weeks. The exchange's shares are also up by around 60% over the past month, according to data from Google Finance. Meanwhile, Coinbase's total revenue dropped 10% quarter-over-quarter to $2 billion in Q1, missing industry expectations as trading activity slowed across the market. The company's net income plummeted 95% to $66 million, largely due to a $596 million paper loss on its crypto holdings. Transaction revenue also declined 18.9% to $1.26 billion, with trading volumes down 10.5% to $393 billion, reflecting a shrinking crypto market partly impacted by tariffs under the Trump administration. Despite this, earnings per share of $1.94 surpassed analyst estimates. Coinbase expands crypto footprint Coinbase has been expanding its market share in spot and derivatives trading with new acquisitions. In May, the firm announced that it had agreed to acquire the crypto options trading platform Deribit in a transaction worth $2.9 billion. Earlier this month, the company purchased Liquifi, a token management platform specializing in early-stage tokenization projects. The move enhances Coinbase's token cap table management, vesting, and compliance capabilities, enabling it to support token creators earlier in their development. Source:
Bloomberg
04-07-2025
- Business
- Bloomberg
Quickening Inflation Adds to Czech Central Bank's Cautious Case
Czech inflation accelerated in June to the fastest pace this year, supporting policymakers' cautious approach and limiting room for further interest-rate cuts. Consumer prices rose 2.9% from a year earlier, up from 2.4% in the previous month, according to preliminary data from the Czech Statistics Office in Prague on Friday. The reading matched the median estimate in a Bloomberg survey and was slightly above the central bank's own 2.8% projection for the month.
Bloomberg
25-06-2025
- Business
- Bloomberg
Czechs Hold Rates With Price Risks Limiting Room for More Cuts
The Czech central bank held interest rates at the lowest level since 2021 as investors seek signals from policymakers on whether there's room for more policy easing. The Czech National Bank kept the benchmark rate at 3.5% on Wednesday, as expected by all economists in a Bloomberg survey. The decision followed the stop-and-go pattern applied since December, which brought quarter-point reductions in February and May.
Bloomberg
25-06-2025
- Business
- Bloomberg
Czech Central Bank to Hold Rates and May Signal Longer Break
The Czech central bank will probably halt interest rate cuts again, with investors awaiting clues about the outlook that may signal a longer pause or even the end of monetary easing. The Czech National Bank will hold the benchmark rate at 3.5% on Wednesday, according to all analysts in a Bloomberg survey. Policymakers last cut borrowing costs in May, following the stop-and-go pattern applied since December.
Reuters
24-06-2025
- Business
- Reuters
US tax bill could have 'big influence' on Czech central bank's portfolio, official says
LONDON, June 24 (Reuters) - U.S. President Donald Trump's sweeping tax-cut and spend legislation could have a big impact on the Czech central bank's investment in U.S. assets, an official said on Tuesday. Czech National Bank board member Jan Kubicek, speaking at an Official Monetary and Financial Institutions Forum event, said that for the moment the central bank's approach to U.S. assets had not changed. But the bill, dubbed the "One Big Beautiful Bill Act" would potentially have a "big influence" on the central bank's American portfolio, he said. "Up to now central banks rejoiced (in) zero taxation and this may radically change, so I think we will have to reconsider it." Part of the budget bill, called Section 899, seeks to tax foreign investors' U.S. income as pushback against countries that impose taxes the U.S. considers unfair. Kubicek also predicted a decline below 50% for the U.S. dollar's share in global currency reserves over the next decade, as other currencies gain traction. The dollar share currently stands at around 58%. The custodians of trillions of dollars of global central bank reserves are eyeing a move away from the greenback into gold, the euro and China's yuan as the splintering of world trade and geopolitical upheaval spark a rethink of financial flows, an OMFIF survey showed on Tuesday. "Other currencies will emerge, probably (the) Chinese currency or some other emerging countries. For this reason the weight of dollar will decline," Kubicek said, predicting a drop to 47%. The dollar, the most popular currency in last year's survey, fell to seventh place this year, the OMFIF survey showed. Slightly fewer than three-quarters of the 75 central banks surveyed said the U.S. political environment was discouraging them from investing in the dollar -- more than doubling from last year. The average expectation for the dollar's share of global FX reserves in 2035 was 52%, the OMFIF survey showed, remaining the No.1 reserve currency. Speaking at the same event Isaac Muhanga, a director of financial markets at the Bank of Zambia, predicted the dollar will continue to account for well over 50% of reserves over the next decade, but saw a greater role for China's yuan. "Given the issues that are surrounding the world today... and just to make reserves management more efficient, I think countries that we are exposed to in terms of trade will increasingly become more important," Muhanga said. "We're thinking that as China continues on this journey to internationalise its currency, small as it is, it will play an important role in many countries' reserve management and Zambia is included in those countries."
