CNB Board Meeting of 2 July 1998

At its yesterday's regular meeting the CNB Bank Board assessed the latest economic and monetary situation. The Board stated that inflation rate this year has surpassed a peaking point and is heading towards maintaining the target corridors set for this year (6 +/- 0.5.%) and for a medium-term horizont by the year 2000 (4.5 +/- 1%). The Bank Board has decided not to change monetary policy orientation.

CNB - M. Švehla