Jan Frait Says Statement Outlined New Long-Term FX Approach

In his final remarks, CNB Deputy Governor Jan Frait comments on the latest changes to the CNB's messaging on FX matters. He says that the way the central bank described its strategy reflects "a new long-term approach," which will be applied even if the relevant phrasing disappears from the next statements.

• As a reminder, the relevant part of the statement reads: "As part of the managed float regime, the CNB will always as a matter of principle prevent excessive fluctuations of the koruna exchange rate that would jeopardise price stability or financial stability, at any time the Bank Board deems it necessary."