Czech bulletin dissects monetary policy transmission


The Czech National Bank (CNB) yesterday published an economic research bulletin, entitled Transmission of Monetary Policy, featuring five articles scrutinising how monetary policy affects the economy.

Roman Horváth, a member of the CNB's research department and guest editor of the bulletin, stressed that "an inadequate understanding of how monetary policy affects the economy increases the risks of missing inflation targets".

One paper, Evaluating Changes in the Monetary Transmission Mechanism in

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