Czech National Bank Open for Interventions

Politics ♦ Published: October 12, 2012; 19:26 ♦ (Vindobona)

At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.

Czech National Bank Open for Interventions / Picture: ©

The Czech National Bank has lowered the interest rate to 0.25%. This is an all-time low. As a result, there is almost no leeway anymore. According to CNB´s governor Miroslav Singer, weakening the crown is no issue yet. Neither the Czech nor the global economy would be in such a bad condition as in 2008/09.

As consumption and government spending are declining slightly, the Czech…