CNB's Lízal sets out case for forex intervention
The Czech National Bank's (CNB) use of foreign exchange intervention as a monetary policy tool would be a rational step at the zero lower bound (ZLB), according to CNB board member Lubomír Lízal.
Giving a presentation to the Czech Republic's 14th international conference on finance and banking today, Lízal outlined his arguments in favour of an interventionist policy, which has been gathering favour within the central bank and been endorsed the International Monetary Fund.
The estimates of the
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