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Czech Republic: No Foreign Exchange Interventions

Politics ♦ Published: September 27, 2013; 10:18 ♦ (Vindobona)

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As the Czech economy shows first signs of recovery, the Czech National Bank (CNB) decided against further monetary instruments.

Czech Republic: No Foreign Exchange Interventions / Picture: © Vindobona.org

After the meeting of CNB´s council, Governor Miroslav Singer explained that there is no need for monetary interventions yet. After six consecutive quarters of negative growth rates, the macro-economic frame conditions in the Czech Republic begin to improve steadily. Retail sale figures, industrial orders and purchasing manager indices indicate a visible upward trend. In July, retail…