The Czech National Bank has reaffirmed that its currency intervention
policy, launched in 2013 to keep a strong crown in check against the euro
and to prevent deflation, is to continue for now – but will likely be
phased out by the middle of this year. However, widespread uncertainly now
exists over precisely when the interventions will end, with some
speculating this could happen as soon as next week. Jan Bureš is chief
economist at Patria Finance. I asked for his take on the central bank’s
decision: