Czech Republic: Monetary Interventions more Probable
Because of an unexpectedly lower inflation rate, foreign exchange interventions are more likely to come.
Czech Republic: Monetary Interventions more Probable / Picture: © Vindobona.org
According to members of CNB (Czech National Bank), the Czech Republic needs further monetary policy steps. CNB is considering starting currency interventions. The interest rate already is at a technical zero. Since the second half of 2012, CNB has lowered the base rate gradually down to 0.05%. Thus, the last remaining instrument is to intervene against the crown. The last foreign…
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