Aleš Michl: The road to the target III

“The previous monetary policy has had the desired effect. Inflation has fallen from 18% in September 2022 to 6.9% in September of this year. According to the forecast, the disinflation process will continue next year. It’s time to move forward slowly and carefully. Whether or not we reduce rates – moderately, gradually and cautiously – by the year-end, we will stay hawkish and do everything to protect our country from more high inflation.” said Governor Aleš Michl in his speech at the start of the CNB Discussion Forum in Zlín.

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