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Czech Republic: Selected Issues and Statistical Appendix

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  • International Monetary Fund

Abstract

The analysis is structured around the standard taxonomy of transmission channels. A monetary tightening must limit banks' ability to supply loans by reducing bank reserves/bank credit. The direct interest rate channel is the strongest channel of the monetary policy transmission mechanism (MPTM), but the exchange rate channel is weak. The government has started addressing the institutional impediments constraining credit to domestic enterprises. Joining the European economic and monetary unit will strengthen the pass-through from policy rates to lending rates.

Suggested Citation

  • International Monetary Fund, 2004. "Czech Republic: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2004/003, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2004/003
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17112
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    Cited by:

    1. Vratislav Izák, 2005. "Fiscal Deficits and Inflation in the Transition Countries," Prague Economic Papers, Prague University of Economics and Business, vol. 2005(1), pages 3-16.

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