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ČNB: Exchange rate commitment more likely to be changed

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The Czech National Bank (CNB) will not stop using currency exchange rate as a monetary policy instrument sooner than in H2 2016. This stems from the minutes of the central bank’s board meeting from March 26. CNB has also stated that it is ready to change the level of exchange rate commitment. The opinion that the probability of this step will increase in comparison to the previous bank board session has dominated among the board members, given anti-inflation risk balance prediction.


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