Czech Republic

CNB governor Tuma says Czech FX reserves too high

Czech National Bank governor Zdenek Tuma said on Wednesday 10 December that Czech foreign currency reserves are too high and were not expected to fall significantly in the near future, reports Interfax. According to Tuma, the central bank cannot reduce…

CNB's Racocha on joining EU

In a speech delivered in Australia in November, Pavel Racocho, a member of the board of the Czech National Bank looks at the impact joining the EU will have on the financial sectors in the accession countries.

Czech President Klaus sceptical on the euro

Czech President Vaclav Klaus told the Cato Institute's 21st Monetary conference on Thursday 20 November that he was sceptical about the benefits of the euro as a single currency, reports UPI. He said that much more economic flexibility is needed for…

CNB's Zdenik Tma on AML and int'l standards

Governor of the Czech National Bank, Zdenik Tma, gave a speech on "Challenges of free capital movement and the role of international standards" in which he focuses on the prevention of money laundering.

Czech president against single EU currency

Czech President Vaclav Klaus, currently on a visit to France said he believes that it was unwise to adopt a single European currency because it is not necessary to get rid of one's monetary policy, one's interest rate policy and exchange rate Czech radio…

Czech president slams central bank over deflation

An overly restrictive monetary policy has been blamed by the Czech President Vaclav Klaus for the deflationary trend seen in the past three months. Klaus also criticised inflation targeting saying it was only useful for discussions at economics…

Czechs unlikely to get euro soon

CZECH REPUBLIC - The Czech Republic will not be able to adopt the European single currency before 2007 at the earliest because of its huge budget deficit, the country's new finance minister has said.

Czech Nat Bank introduce forecasting model change

ARTICLE - The Czech National Bank has made a change in its forecasting and decision making procedures. They recently completed work on a forecasting model that incorporates reactions of the central bank endogenously in the form of a reaction function.

McTeer says U.S. Fed has time to move on policy

CZECH REPUBLIC - Robert McTeer, president of the Federal Reserve Bank of Dallas, on Tuesday said the U.S. Federal Reserve has some time for policy adjustments but added that members of the rate setting FOMC remain open-minded on the issue.

Czech Nat Bank vice-governor reappointed

CZECH REPUBLIC - As expected, President Vaclav Havel has reappointed Ludek Niedermayer, a vice-governor of the Czech National Bank (the central bank), to a second six-year term on the bank's rate-setting board.

Czech central banker opposes ERM

CZECH REPUBLIC - The Czech Republic should spend as little time as possible in an exchange-rate mechanism prior to adoption of the euro, said the central bank's governor, Zdenek Tuma.

Havel to re-appoint Niedermayer to CNB Bank Board

CZECH REPUBLIC - President Vaclav Havel will re-appoint central bank CNB vice-governor Ludek Niedermayer, whose six-year mandate would expire on 27 February, to the Bank Board for another term on Friday, presidential spokesman Ladislav Spacek told CTK…

UK aids Czech laundering fight

UK - Britain is advising the Czech Republic on drawing up anti-money-laundering legislation and improving its financial controls as part of a EU-funded programme to be launched in Prague today.

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