Czech Republic: Staff Report for the 2011 Article IV Consultation

International Monetary Fund

No 2011/083, IMF Staff Country Reports from International Monetary Fund

Abstract: The Czech economy has rebounded from the downturn owing to its strong fundamentals and the global recovery. Domestic demand has become self-sustaining since mid-2010. Fixed investment grew moderately in the second half of 2010, mostly on account of one-off factors. GDP has grown by 2.3 percent in 2010. Despite accommodative monetary policy, inflation pressures remained subdued until the recent surge in commodity prices. The virtually foreign-owned banking system has been stable throughout the crisis. Fiscal consolidation has commenced in 2010 and helped yield significant credibility gains.

Keywords: ISCR; CR; headline CPI inflation; exchange rate; output gap start; core inflation; GDP; inflation expectation; commodity prices inflation; real GDP; sizeable output gap; prices inflation; Output gap; Fiscal stance; Global (search for similar items in EconPapers)
Pages: 58
Date: 2011-04-07
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