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.

Beginning in July 2002, this "unconditional" type of forecast replaced the previously used unchanged-interest-rate forecast as the basis upon which the CNB's Bank Board bases its monetary policy decision-making considerations aimed at fulfilling

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