Saturday, 11 July 2020


When the Czechs said they're not the Swiss, they really meant it

Bloomberg |
18 May 2017

The Czech central bank went the extra mile to convince investors that it's not like its Swiss counterpart, and then it showed everybody why. Six weeks after policy makers in Prague removed the regime limiting currency gains, the koruna has barely moved and remains one of the least volatile currencies in the world.

Czech leader vows more pressure on foreign investors over wages

Bloomberg |
19 April 2017

Foreign owners of Czech businesses will face more government pressure to raise wages, Prime Minister Bohuslav Sobotka said, highlighting a key campaign theme for fall elections. Salaries in the richest ex-communist European Union member are still too low and represent a "serious problem" for the economy, the premier said after meeting with union leaders in Prague on Tuesday.

What might happen when Czechs let Koruna run free: Quick take Q&A

Bloomberg |
30 March 2017

The koruna is on the brink of freedom. For more than three years, the Czech Republic’s central bank has shackled its currency from rising too far against the euro, in an effort to ward off deflation.

Billionaire ignites debate over who's rich before Czech election

Bloomberg |
27 February 2017

Czech billionaire Finance Minister Andrej Babis took aim against his governing partner, Prime Minister Bohuslav Sobotka, by challenging his proposal on how to tax the rich before fall elections. Babis, whose ANO party leads opinion polls ahead of this fall's parliamentary ballot, vowed to cut income tax for earners with monthly salaries of less than CZK 113,000 and keep levies for everyone else unchanged.

Inflation drowns out Czech central bank's koruna cap message

Bloomberg |
31 January 2017

The Czech central bank's communications offensive may be falling on deaf ears. Policy makers in Prague launched a media push this month to convince investors that a sudden spike in inflation isn't changing their view that they'll probably scrap the Swiss-inspired currency cap mid-year.

Central banker says negative rates may help end koruna cap

Bloomberg |
9 December 2016

Policy makers in Prague may introduce negative interest rates to discourage inflows into the koruna around the time they are ending their three-year-old limit on the exchange rate, a policy maker said.

Thousands gather in Prague protest against Zeman

Bloomberg |
31 October 2016

Thousands of Czechs protested in an opposition-led rally in Prague in the biggest yet demonstration against President Milos Zeman, who has polarized the nation with pro-Russian and anti-immigrant rhetoric. The demonstration follows accusations by opposition and government lawmakers that Zeman refused to grant a high state award to holocaust survivor Jiří Brady because his nephew, Culture Minister Daniel Herman, met with the exiled Tibetan spiritual leader Dalai Lama.

EU can't do without common army in long term, Czech PM says

Bloomberg |
23 August 2016

The European Union will need a common army to bolster its security over the long term after the U.K. follows through on its decision to exit the bloc, Czech Prime Minister Bohuslav Sobotka said.

New rate setter sees one more year of koruna straitjacket

Bloomberg |
13 July 2016

The Czech economic outlook indicates the central bank will be able to end its cap limiting koruna gains in about a year, and policy makers probably won’t have to pursue more unconventional monetary steps, a new member of the rate-setting board said.

Czech president to name Rusnok colleagues to central bank board

Bloomberg |
17 May 2016

Czech President Miloš Zeman picked two economists with ties to future central bank Governor Jiří Rusnok to join the rate-setting board, giving him potential allies as policy makers deliberate a smooth exit from the bank's cap on the koruna.

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