CNB Board Meeting of 27 August 1998

At its meeting today the CNB Board assessed the latest monetary development on the basis of a regular situational report. The Board stated that the preconditions for inflation in the forthcoming period were satisfactory. At the end of this year, according to available analyses, net inflation will be fluctuating at the lower limit of the interval set within inflation targeting (6 + 0.5%). Inflation has been affected significantly by so-far favourable external factors, especially the koruna´s exchange rate and import prices. The Board decided to leave interest rates at the present level.

CNB - M. Švehla