Saturday, 11 July 2020

Czech central bank rebuffs Prime Minister's attack on rate hikes

Bloomberg |
5 March 2020

The Czech central bank pushed back against billionaire Prime Minister Andrej Babis's criticism of its efforts to curb inflation with higher borrowing costs. The surprising February rate increase, the only one globally this year, prompted a rebuke from Babis, who said such moves are boosting banks' earnings while hurting the economy during a slowdown.