The Termination of Foreign Exchange Interventions and the Balance Sheet of the Central bank
The Termination of Foreign Exchange Interventions and the Balance Sheet of the Central bank

Author(s): Dalibor Pánek
Subject(s): Business Economy / Management, Economic history, Economic policy, Present Times (2010 - today), Financial Markets
Published by: Masarykova univerzita nakladatelství
Keywords: Central bank; non-standard monetary policy instrument; exchange rate intervention; the balance of the central bank; the banking sector; the reserve banks; foreign exchange reserves;
Summary/Abstract: The aim of the text is an analysis of the changes of selected items of the balance sheet of the Czech national bank in the course of and after completion of foreign exchange intervention as a monetary policy instruments and the context in the banking sector. The analysis of the manifestations of foreign exchange intervention in the central bank's balance sheet was carried out on the basis of the data for the years 2012 – 2017. This period includes the progress of the use of this tool of monetary policy and the state after its completion. The text characterizes the effects of the active and passive sides of the balance sheet of the central bank and assesses the achievement of the objectives set. Analysis of selected items of the balance of the central bank was made on the basis of theoretical knowledge of the resources listed and the practical knowledge of the author. In conclusion, the author presents his views on the use of this tool of monetary policy, especially in the period after his termination. For text processing were used methods of description of the theoretical and practical parts, methods of comparison, analysis and prediction in the part of the text following the development of the on-balance sheet items in the course of and after completion of foreign exchange intervention.

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