Czech National Bank Governor Aleš Michl reiterated that monetary policy would remain hawkish despite low inflation, warning that mortgages would be more expensive than borrowers had been accustomed to. In remarks for The Future Is Personal conference in Prague and Forbes Better Czechia in Karlovy Vary, he emphasized keeping inflation low, maintaining confidence in the koruna and ensuring that saving pays over the long term.
Michl framed the central bank’s role as providing monetary stability rather than directing economic activity, which he assigned to households, firms and the government. He described low inflation, reserves for the future and restored trust as the main results of the bank’s approach, arguing that saving had become worthwhile again after a long period.