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Singer: “Forex Interventions Were Right Measures”

People ♦ Published: February 13, 2014; 12:43 ♦ (Vindobona)

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Miroslav Singer, Governor of the Czech National Bank (CNB), considers the forex intervention and the weakening of the Czech Crown as the right measures in the light of the most recent inflation figures.

Singer: “Forex Interventions Were Right Measures” / Picture: © Vindobona.org

According to him, a change in the national bank’s strategy was not required as the Czech Crown is in line with the inflation target, which is 2 percent in consumer prices.

"The data are basically in harmony with our expectation. They show that without this autumn measure, the economy would now be heading very deep into the deflationary zone. They also show that no dramatic…