Support for export as a non-standard Central Bank policy: foreign exchange interventions in the case of the Czech Republic
Support for export as a non-standard Central Bank policy: foreign exchange interventions in the case of the Czech Republic

Summary/Abstract: Because of the crisis and, inter alia, to restore economic growth, some central banks have applied a non-standard monetary policy. In the case of the Czech Republic, this was in the form of foreign exchange interventions to support exports. Export is divided into sub-parts, which are examined by mainly using regression analysis in terms of changes in central bank indicators. The results show that foreign exchange interventions indeed had a positive impact on total exports, though considerably asymmetric. The standard instrument of the central bank, the Policy Interest Rate, has a much more significant impact on the industry.

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