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.

The amendment sets out the CNB's main task as care of price stability rather than monetary stability, in line with the Czech constitution. The amendment also unites the operational and investment portions of the CNB's budget under the authority of the CNB's board. The EU had previously criticized the CNB law

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