“A higher-than-zero CCB rate is being introduced for the first time because of a more pronounced recovery in lending, which is starting to create conditions for systemic risk to emerge,” said CNB Vice-Governor Vladimír Tomšík.
Given the capital planning needs of credit institutions, the CNB stated in Provision of a general nature on setting the countercyclical capital buffer rate IV/2015 that it would stand ready to increase the CCB rate further in the future should the acceleration of credit growth, easing of credit standards and growth in investor optimism continue.
The press release in Czech is available here. More details in Czech.
The CNB Bank Board decided on the new CCB rate at its meeting on 3 December 2015. More details on the CCB and the relevant Provision of a general nature are available on the CNB website.
Read also the article CNB keeps interest rates unchanged, confirms exchange rate commitment. The article in Czech is available here.
Jiří Rusnok seems to be the next Czech National Bank Governor (Mr. Singer, the current CNB governor, should leave the office in summer 2016). Currency interventions could continue, aktualne.cz server wrote. More detials here.
There is an article published by the aktualne.cz server on the budget discipline and measures taken in the Czech Republic and Germany.
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