The CNB announces the inflation target for the year 2001

The CNB Governor Josef Tošovský today informed journalists of the CNB's inflation target for the year 2001 - 3% ± 1 percentage point. The CNB has committed itself to announcing in April each year the target for the end of the following year. The 2001 target should be understood as a stepping stone in the implementation of the long-term disinflationary strategy which, after achieving consensus with the Government, was anchored in the "Long-term Monetary Strategy", a document approved and submitted to the public in April 1999. The principles of this document have become an integral part of the "Medium-term Economic Strategy of the Czech Republic" and of the related joint document of the Czech Government and the EU Commission: "Joint Assessment of Czech Republic's Economic Policy Priorities".

Milan Tománek, CNB