Vladimír Urbánek (Kurzy.cz)
Currencies  |  December 13, 2012 10:02:39

Zamrazilová (CNB) would, under certain conditions, to support interventions


E. Zamrazilová from the CNB said that under certain conditions, to support intervention to weaken the crown, to help the economy. Her condition, however, is that the export effect of these interventions outweighed the negatives of import prices. That's exactly what note a few months and we - by us, although such operations in the sum will be positive, but very few (weakening of the crown above 26 throughout 2013 makes only 0.3 percentage points to GDP, the unemployment rate will not be reflected almost no ). The question is of course whether households do not react to the rise in import prices more than they "should model" (after all, we see this year in response to the increase in taxes). EZ also added that he wants to wait for the data for 1Q13, to see how the growth effect of taxes, deregulation. According to us, this is reasonable.I still think that the CNB intervention begins, if the duck reasonable (= over 25).

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