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President to Announce CB Board Picks Tomorrow

CZECHIA

Reuters cites Czech state TV as saying that the President will appoint new central bank board members on Wednesday.

Worth recalling the President has the final call on who replaces these seats on the board - Zeman needs to appoint three policymakers to the board:

  • The seat cleared by Michl's promotion to governor
  • Vice Governor Nidetzky
  • Board member Benda

Note that both Benda and Nidetzky can be reappointed to the board. Both Benda and Nidetzky were among the policymakers opting for tightening throughout this cycle - taking the opposing side of the incoming governor Michl.

They are both eligible for re-nomination for a second term, but the President could theoretically select three more dovish policy makers to tilt the balance of the board away from further tightening.

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