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Michl Lauds Success In Fight Against Inflation, Flags Residual Risks

CNB

CNB Governor Ales Michl writes on his X handle that the central bank "have restored price stability, which is our legal mandate" after the CZSO reported that inflation fell to +2.3 Y/Y in January, close to the central bank's +2.0% target. However, he also warns of inflationary risks and pledges to proceed with caution.

  • Michl: "We will remain hawks who will do everything for price stability. Core inflation is still high. The weakening of the koruna is a pro-inflationary risk. The deficit of public finances is a pro-inflationary risk. These are the arguments why interest rates should be lowered carefully and why we can stop the process of lowering rates at any time."
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