Plans to build two more reactors at the Temelin nuclear power plant in south Bohemia are looking increasingly unlikely be realized. Incoming prime minister Bohuslav Sobotka said in an interview this week that his government would not offer guarantees on the purchase price of electricity from the new reactors which alone would make the estimated $15 billion project economically feasible.
The central bank’s decision to launch forex interventions against the crown last November have won Miroslav Singer the title European central banker of the year by the Financial Times group monthly The Banker, but many Czech producers remain unconvinced it was the right move and consumers fear significant price rises in the coming months.
The Czech Republic´s top banker has gladly taken the praise awarded him by his international audience for the central bank's audacious foreign currency intervention to push the crown lower. But Czech National Bank governor Miroslav Singer admits assessments of the move will not really be possible until the impact on inflation becomes clearer.
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