On Thursday 21st August president Zeman in his statement said that the Czech National Bank devaluated Czech currency on purpose and effectively prevented transition to the common European currency in the foreseeable future to prevent losing its powers to European Central Bank. He was in this statement joined by Josef Středula, president of the Confederation of Czech and Moravian Trade Unions. Since that time he was opposed by many analysts. For example Václav Franče from the Reiffeisenbank said that the Czech National Bank primarily strived to prevent the deflation that was imminent. And the transfer to Euro was still the matter of far future. Deloitte analyst David Marek added that the steps of Czech National Bank were logical as in the view of the economic situation at that time. Also UniCredit Bank analyst Pavel Sobíšek doesn’t share president Zeman’s opinion abouth the side motivation of the intervention. On Sunday 24th August vice-governor of the Czech National Bank Vladimír Tomšík said that the Czech crown should definitely not appreciate and that the bank would keep current exchange rate above 27 CZK/EUR at least until 2016.
12th October 2020