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Macroeconomics  |  January 21, 2013 10:00:58

Co (z) can CNB?


Czech National Bank cut rates to near zero and she said that another way to ease monetary policy, the use of foreign exchange interventions. Thus, the sale of Czech crowns weaken the exchange rate. Unlike the interest rate is not limited by the CNB. CNB can theoretically sell the crown to infinity and weaken the exchange rate at any level. It sounds positively. In addition, the Czech economy is dependent on exports and a simple economic proposition says that a weaker exchange rate is favorable for exports. It seems that the CNB has in hand a powerful tool that propels growth of the Czech economy into positive territory ...

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