Czech National Bank Meeting Keeps Present Policy Stance

August 4, 2016

The decision to leave Czech monetary policy settings had been expected.  The two-week repo rate has been 0.05%, effectively zero in functionality terms, since November 2012, and a one-sided intervention-enforced foreign exchange cap on koruna strength at 27 per dollar was imposed as an extra tool one year later.  According to a newly updated forecast, monetary policy-relevant inflation is not expected to be as high as the 2% target until around the middle of 2017.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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