Czech Republic: Selected Issues and Statistical Appendix
Volume/Issue:
Volume 2004
Issue 003
Publication date: January 2004
ISBN: 9781451810134
$20.00
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Topics covered in this book
This title contains information about the following subjects.
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Banks and Banking , Money and Monetary Policy , ISCR , CR , exchange rate , exchange rate channel , credit market , GDP , interest rate channel , interest rate shock , monetary policy shock , exchange rate shock , Exchange rates , Credit , Bank credit , Nominal effective exchange rate , Vector autoregression , Europe
Also of interest
Summary
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.
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