Czech Republic
Czechs unlikely to get euro soon
CZECH REPUBLIC - The Czech Republic will not be able to adopt the European single currency before 2007 at the earliest because of its huge budget deficit, the country's new finance minister has said.
Czech Nat Bank introduce forecasting model change
ARTICLE - The Czech National Bank has made a change in its forecasting and decision making procedures. They recently completed work on a forecasting model that incorporates reactions of the central bank endogenously in the form of a reaction function.
Czech interest rates cut to stem rise of currency
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates to lower than in the eurozone, in an attempt to halt the headlong appreciation of the country's currency.
Czech National Bank - Annual Report 2001
ANNUAL REPORT - The Czech National Bank has published its Annual Report for the year ended 2001.
Czech Senate okay c bank law on meeting EU needs
CZECH REPUBLIC - The Czech Senate on Wednesday approved an amendment to the Czech National Bank (CNB) bill which brings the legislation into line with European Union requirements.
Santomero - Govt must actively regulate markets
CZECH REPUBLIC - The lack of transparency in the financial system means that the government must retain a key role in regulating that system, Federal Reserve Bank of Philadelphia president Anthony Santomero said Wednesday.
McTeer says U.S. Fed has time to move on policy
CZECH REPUBLIC - Robert McTeer, president of the Federal Reserve Bank of Dallas, on Tuesday said the U.S. Federal Reserve has some time for policy adjustments but added that members of the rate setting FOMC remain open-minded on the issue.
Czech Senate pass amended Banks Act, Payments Act
CZECH REPUBLIC - The Senate on Wednesday passed the amended Banks Act abolishing the possibility of anonymous deposits, among other things.
Niedermayer to stay in CNB post for six-year term
CZECH REPUBLIC - The current vice-governor of the Czech National Bank (CNB) Ludek Niedermayer will be renamed to his post for another six year term.
Czech Nat Bank vice-governor reappointed
CZECH REPUBLIC - As expected, President Vaclav Havel has reappointed Ludek Niedermayer, a vice-governor of the Czech National Bank (the central bank), to a second six-year term on the bank's rate-setting board.
Niedermayer to CNB board with effect from 27 Feb
CZECH REPUBLIC - President Vaclav Havel today re-appointed central bank CNB vice-governor Ludek Niedermayer to the Bank Board for another six-year term, with effect from 27 February.
Czech central banker opposes ERM
CZECH REPUBLIC - The Czech Republic should spend as little time as possible in an exchange-rate mechanism prior to adoption of the euro, said the central bank's governor, Zdenek Tuma.
Havel to re-appoint Niedermayer to CNB Bank Board
CZECH REPUBLIC - President Vaclav Havel will re-appoint central bank CNB vice-governor Ludek Niedermayer, whose six-year mandate would expire on 27 February, to the Bank Board for another term on Friday, presidential spokesman Ladislav Spacek told CTK…
Havel probably breached law with c bank account
CZECH REPUBLIC - President Vaclav Havel has probably been violating the law for many years, the tabloid Super writes today.
Czech National Bank shows loss for 2001
CZECH REPUBLIC - The Czech national Bank (CNB) posted a loss of CZK 28.6 bn in 2001, against a profit of CZK 2.5 bn in 2000, according to figures released by the bank.
UK aids Czech laundering fight
UK - Britain is advising the Czech Republic on drawing up anti-money-laundering legislation and improving its financial controls as part of a EU-funded programme to be launched in Prague today.
Czech Havel meets Niedermayer on his cbank post
CZECH REPUBLIC - Czech President Vaclav Havel met central bank (CNB) Vice-Governor Ludek Niedermayer late on Monday to discuss his future on the bank's policy-setting board, Havel's spokesman said on Tuesday.
MPs send amendment to law on CNB to final reading
CZECH REPUBLIC - The Chamber of Deputies today sent to a final reading the government-sponsored amendment to the law on the Czech National Bank (CNB), which corrects the drawbacks of the previous amendment criticised by the European Union.
Potmesil might become CNB Board member - Report
CZECH REP - Deputy Finance Minister Tomas Potmesil might become a hot candidate for the post of a member of the Czech National Bank (CNB) Board if President Vaclav Havel does not renew the mandate of CNB vice-governor Ludek Niedermayer, daily Pravo says…
CNB to change internal structure as of 2002
CZECH REPUBLIC - The Czech National Bank's (CNB) organisational structure will change as of 1 January 2002, and the Bank Board should deal solely with monetary issues and monetary-political decisions, says the latest edition of the Euro weekly, due out…
EC concern over independence of Czech c bank
CZECH REPUBLIC - The European Commission (EC) is worried about continued threats to the independence of the Czech National Bank (CNB), including the independence of the bank's board members, according to this year's annual assessment report.
Czech nat bank critical of gov't pressure on rates
CZECH REPUBLIC - Czech National Bank Governor Zdenek Tuma Thursday criticised Prime Minister Milos Zeman and Finance Minister Jiri Rusnok for publicly urging the central bank to cut interest rates in recent weeks.
OECD recommends more power to banks regulator
CZECH REPUBLIC - The Czech Republic can best minimise risks to its banking sector by creating preconditions for a more effective functioning of the regulator, the Czech National Bank (CNB), says a recently published study by the OECD on the Czech economy.
Central Europe govt's on collision with c-banks
CZECH REPUBLIC - With elections due in all three of central Europe's leading economies in the next year, governments seeking to raise public sector spending risk bruising rows with their central banks.