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Czech Republic: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper analyzes the Czech Republic’s monetary policy after removal of the exchange rate floor. The koruna-euro exchange rate floor, which had been in place for more than three years, was eliminated in the beginning of the second quarter of 2017. Exit poses a number of challenging policy questions, including on the optimal monetary policy in its aftermath. The simulations indicate that a monetary policy response that is ex-post too loose is likely to be less costly than a monetary policy response that is ex-post too tight. This suggests that a gradual approach to interest rate increases is advisable.

Suggested Citation

  • International Monetary Fund, 2017. "Czech Republic: Selected Issues," IMF Staff Country Reports 2017/169, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2017/169
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