21.11.2018 15:13 After updating 21.11. 15:55
President Milos Zeman appointed new members of the Economics Board Aleš Michl (41) and Tomáš Holub (44). From December, the CNB Vice Governors will replace Mojmir Hampla and Vladimir Tomšík, who will end the second term in office, and can no longer stand for a third. At the same time, the Presiding Officer appointed today the current members of the Council of Marek Mora and Tomas Nidetzki Vice Governors of the CNB.
The other members of the Bank Board are Governor Jiří Rusnok and members of the Vojtěch Benda and Oldřich Dědek Board.
Zeman expressed satisfaction with CNB's financial policy when appointing new members of the Bank Board. He appreciated the gradual increase in interest rates and CNB efforts to reduce the availability of mortgage, and said that it could act as a suspension against a mortgage crisis in the Czech Republic, similar to ten years ago in the United States.
Zeman also welcomed the fact that CNB is giving up the best of foreign exchange intervention. "After a period of failed foreign exchange intervention, I am pleased that the money has returned to market values, and as you can see, economic growth and low unemployment continue to continue, with two percent inflation , "he said. If economic slowdown occurred, it would be a result of the US-China trade war.
"Tomas Holub's appointment is the natural and logical consequence of her long-term and professional work for the central bank. I expect Aleš Michl to introduce a new perspective to the board and thank her talent, to tackle the general public, contributes to a wider understanding of what the National Bank is doing and why, "says the Governor Rusnok. Mora and Nidetzki will be vice governors, according to him, thanks to previous management experience, ensures the strong leadership of the central bank.
Pigeon has been the head of the CNB Financial Department since May 2004. He has been working for four years as an adviser to the Central Bank governor. Michl is an external advisor to Prime Minister Andrei Babis (ANO) for the economy. Formerly, he worked in teams of the Deputy Prime Minister of Economics Martin Jahn and Jiří Havel who worked from 2006 to 2015 at Raiffeisenbank.
According to an earlier statement by the Czech Fund Economist Lukáš Kovanda, the Pigeon belongs to the bank board members with the best professional equipment. "Its influence in the form of financial policy has been compared to bank advisers, if not higher, in recent years," said Kovanda.
Michl, according to the analysts of the Bank of the Bank of the Czech Bank, could be included in the so-called accused, that is, Bank Board members, who are advocates of interest rates hikes, as long as economic development allows. In the past, he often expressed himself in favor of a stronger crown and criticized foreign exchange interventions. "At this point, it fits more into the CNB iron wing and will support the return of interest rates to higher levels if economic development allows, replacing the Mojmir Hampl sy & # 39; n going out, "said chief economist ING Jakub Seidler.
At the same time, he noted that the Bank Board had already been completely superseded by the candidates of President Zeman. He will be able to appoint five other members during his tenancy, all except Michael and Hollow.
Mora has been the Regional Director of Budget, Tax and Policy since 2015 as the General Secretariat of the Council of the European Union. In the past, he worked in the European Commission, Ministry of Education or the Czech Republic Government Office. The team was preparing and co-ordinating the EU Czech presidency in 2009. In the years 2010 to 2015 he was Head of the Office of the General Secretary of the Council of the EU.
Nidetzký did not work before coming to the CNB at NN Insurance Company (formerly ING). Previously, he worked for example in ČSOB pojišťovna or Česká spořitelna group. In the ING group, among other things such as the head of the pension fund, the current CNN Rusnok governor from 2003 to 2013 also worked.
The CNB Bank Board seven members determine the country's financial policy and decide on major financial policy measures. Members of the Council have a term of six years and may not serve more than twice. In addition to financial policy, the CNB is responsible for overseeing the entire financial market, including banks, insurance companies and the capital market.
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