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Czech News in English » Business » ČNB: Inflation will reach 2% target in 2017

ČNB: Inflation will reach 2% target in 2017

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Consumer prices in the Czech Republic will commence growth from values close to zero at the end of 2016. This is estimated by the Czech National Bank (ČNB). Inflation should reach the central bank´s 2% target in the second and third quarter of 2017. According to the forecast GDP will slow down to 2.3 % in 2016. The main reason will be a drop in government investments. In 2016 the average monthly salary will grow a nominal 3.9 %. The unemployment rate will reach 5.6 %. ČNB anticipates stability of market interest rates at the existing level and the use of the exchange rate as a monetary policy tool until the middle of 2017.

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