Michl – unlike his predecessor – is not in favor of raising interest rates in the current constellation. Like the head of state. “I would not like interest rates to fall sharply, but I do not think there is enough reason now to raise them further,” Zeman said. The interest rate depends on how expensive people will get loans and mortgages.
However, its increase is also a tool in the fight against inflation. But despite the efforts of the central bank, it is now 14.2%. Although the new governor no longer wants to raise rates, there will also be no rapid decline, precisely because of inflation. “The main goal will be to bring it back to two percent. I assume that it will take two years, “said Michl, who will replace Jiří Rusnok (61).
Aleš Michl is a graduate economist and has been a member of the CNB’s Bank Board since December 2018. He worked for Raiffeisenbank for nine years and since 2014 he has been an economic adviser to the head of the ANO movement, Andrej Babiš (67).