Holinka, Tomáš - In: Czech Journal of Economics and Finance (Finance a uver) 55 (2005) 7-8, pp. 363-379
falling inflation expectations and inflation premiums. The decrease of CZK/EUR long-term rate differentials from 4 % to 0 … % can approximately be explained by the one-third decrease of inflation expectations in the Czech Republic and by the 50 …% decrease of the relative inflation premium. In the long term, the effect of Czech National Bank monetary policy is dwindling …
