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| Guard changes at Czech National Bank with new governor |
| Prag, 05.07.2016 |
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| The changing of the guard has taken place at the Czech National Bank with a new incoming governor replacing the outgoing Miroslav Singer. And the new incumbent, Jiří Rusnok, is facing some interesting times with the expected exit from the bank’s low crown policy looming and the debate once again revived now about if and when the Czech Republic will sign up for the euro.
Miroslav Singer yesterday ended his six year term as the governor of the Czech National Bank. The new head of one of the country’s most respected institutions in the country is former finance minister and caretaker prime minister Jiří Rusnok. It’s the president who makes the choice of the bank head and board and there’s little doubt that Rusnok is close to head of state Miloš Zeman.
For the outgoing governor, Miroslav Singer will very much be remembered for the low crown policy, keeping the crown pegged low against the euro, from November 2013. It was an instrument of last resort the bank was pushed into using to fend off the dangers of deflation when interest rates were already so low that they had ceased to be an effective market moving mechanism.
In an interview with Czech Television, Singer defended himself against the accusations that the policy has overwhelmingly favoured exporters to the detriment of other sections of the economy.
odkaz na stránku |
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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