CNB Board Meeting of 7 October 1999

At its meeting today, the CNB Board discussed, in the presence of Deputy Prime Minister and Minister of Finance Pavel Mertlík, the document entitled "Economic Policy Strategy in a Period of Increased Capital Inflow". It was agreed that this document identifies the major economic and monetary impacts associated in the medium run with a subsequent inflow of foreign capital of non-debt nature, and that the need to counter the appreciation and demand effects of capital inflow requires co-ordination of monetary and fiscal policies. Agreement was also expressed on the basic orientation of the proposed measures. After the completion of a number of technical aspects in co-operation with the Ministry of Finance, the document will be submitted to the Czech Government.

CNB - M. Švehla