Czech National Bank's (CNB) monetary policy. The factors in question are changes in the structural characteristics of … economies in transition, changing perception of inflation risks, the inconsistency of central bank's monetary decisions and … central bank's weakened credibility and uncertainty about the efficient transmission of monetary measures. The empirical …

developments abroad and unexpected statements of central bankers. Scheduled central bank decisions on the interest rates did not …

successful balancing between bank's demand for reserves and central bank's supply of the reserves in interbank market. I discuss …

and central bank inflation target. Therefore we try to analyze the crucial problems of efficiency of the inflation … Bank repo rate. For this purpose we use the framework of expectation theory with the term premium and simple deterministic …

cyclical economic development, and to expectations of lower central-bank inflation targets. …

In the inflation targeting regime the central bank makes a decision about interest rate adjustment based on a forecast … central bank to expected economic development. The systematic part of monetary policy - the decision pattern of central bank …