Czech president slams central bank over deflation

An overly restrictive monetary policy has been blamed by the Czech President Vaclav Klaus for the deflationary trend seen in the past three months. Klaus also criticised inflation targeting saying it was only useful for discussions at economics conferences.

Source: Interfax

The Czech Republic's deflationary trend in the past three months is not good for the economy and is a product of the Czech National Bank's (CNB) overly restrictive monetary policy, according to Czech President Vaclav Klaus.