Economic policy / Macroeconomic Indicators, Economic Growth
This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.
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CNB: Interest rates at technical zero, currency interventions commitment unchanged, GDP growth in 2016 slower than in 2015
At its on 4 February, the Bank Board of the Czech National Bank decided unanimously to keep interest rates unchanged at technical zero. The Bank Board decided to continue using the exchange rate as an additional instrument for easing the monetary conditions and confirmed the CNB’s commitment to intervene on the foreign exchange market if needed to weaken the koruna so that the exchange rate of the koruna is kept close to CZK 27 to the euro. Also, the Czech central bank estimates GDP growth in 2015 at 4.7% and according tthe CNB's forecast, the growth of the Czech economy will slow markedly in 2016.
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Euro in Czech Republic: It could take 5 years for Government to decide
In terms of economy, the Czech Republic is ready for adoption of the common currency. The outlook for the economy is positive, said EC's Vice-President for Euro & Social Dialogue in Prague. Still, in an interview for the ceskapozice.lidovky.cz server, the (likely) next Czech Central Bank Governor maintains that the Government will not make the decision on Euro adoption in the next five years...
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CNB: Czech National Bank sets the countercyclical capital buffer rate at 0.5%
The CNB Bank Board has decided to set the countercyclical capital buffer (CCB) rate for exposures located in the Czech Republic at 0.5%. Banks, credit unions and investment firms are obliged to apply this rate from 1 January 2017. The current CCB rate is zero, the Czech central bank informed on 18 December...
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