CNB sets 2006 inflation target at 2-4% upto euro

The Czech National Bank (CNB) has decided to keep its inflation target between 2 % and 4 % for the period starting January 2006, according to a CNB spokeswoman.

"The inflation target will be in force continuously until the Czech Republic joins the euro area, when the implementation of monetary policy directed at maintaining price stability will pass on to the European Central Bank (ECB)," Pavlina Bolfova told Interfax.

The central bank's current inflation targets, calling for inflation falling