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New CNB Board Members to be Announced Today

CZECHIA
  • The Czech President is due to hold a ceremony today at 2pm local time (1300BST/0800ET) announcing the three candidates to fill three board seats at the CNB. Local press reports that the seats will be filled by:

* Eva Zamrazilova – current chair of the National Fiscal Council and CNB board member between 2008 – 2014

* Jan Frait – head of the CNB’s financial stability council and CNB board member between 2000 – 2006

* Karina Kubelkova – an economist with the Czech Chamber of Commerce.

  • The announcement means that hawkish members of the council Benda and Nidetzky will miss out on a second term, possibly leaning the balance of the board more dovish, in line with the views of the incoming governor Michl. The new positions will start from July.
  • Unemployment rate data out this morning showed the unemployment rate dropped to 3.2% in May, inline with expectations.

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