Central Banking

CNB dispute may damage central bank's independence

The Czech government on Wednesday refused to approve the president's appointment of Zdenek Tuma as governor of the Czech National Bank, escalating a dispute that could damage the stability and independence of the central bank, The Financial Times writes today.

President Havel on Wednesday, November 29, in defiance of opposition by Premier Milos Zeman appointed hitherto vice-governor Zdenek Tuma the new CNB governor with effect from December 1 of this year.

Referring to the Constitution and the law

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