The Czech central bank is expected to pause interest rate cuts soon to stabilize inflation, which has recently shown signs of accelerating beyond 3%. Governor Ales Michl indicated that while inflation had approached the 2% target earlier this year, core inflation remains a concern, reflecting ongoing domestic demand pressures.
Czech central bank Governor Ales Michl has warned that global economies are facing increased volatility in consumer prices, necessitating stricter monetary and fiscal policies. He noted that after a period of high inflation, the world is entering a phase with greater inflation fluctuations around central bank targets, with an upside risk.
The Czech central bank governor, Ales Michl, emphasized the need for higher global interest rates and government budget austerity to combat persistent inflation. He attributed current price pressures to previous loose monetary policies that flooded the economy with excess money. This statement follows the bank's eighth consecutive interest-rate cut, indicating a potential end to the easing cycle.
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