FACTBOX-Who's who on Czech central bank policy board

16.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Nov 16 (Reuters) - The six-year mandates of two of the Czech central bank's (CNB) seven policymakers, Michaela Erbenova and Jan Frait, will expire later this month and President Vaclav Klaus has yet to say whether he will re-appoint either.

For a news report on the possible personnel changes to the CNB board, double click on [ID:nL16681772].

The following is the complete line-up of the seven-member CNB governing board, background on policymakers' general preferences, and a history of the past five rate moves.

=================CENTRAL BANK GOVERNING BOARD==================

GOVERNOR ZDENEK TUMA, 46, mandate until Feb 2011.

- pragmatic, but rather hawkish as resurgent price growth leads him to reassert the inflation-fighting credentials given his general responsibility for maintaining price stability as the bank's chief executive.

VICE-GOVERNORS:

LUDEK NIEDERMAYER, 40, mandate until Feb 2008.

- seen generally leaning towards hawkish views on inflation.

MIROSLAV SINGER, 38, mandate until Feb 2011.

- seen tending towards pragmatic policy views; has said he is not afraid of advocating frequent policy changes in order to ensure interest rates are kept as low as the inflation outlook permits.

MEMBERS:

MICHAELA ERBENOVA, 38, mandate until end-Nov 2006.

- has used hawkish languague this year; stated her general preference for timely rate moves which could avoid sharper and quicker policy response in the future.

JAN FRAIT, 40 years old, mandate until end-Nov 2006.

- self-proclaimed advocate of accommodative monetary policy to shield the export-sensitive, small and very open economy from external headwinds and a long-term firming trend in the currency.

ROBERT HOLMAN, 52, mandate until Feb 2011.

- has said as a general rule, he prefers stability in interest rates to frequent changes.

PAVEL REZABEK, 45, mandate until Feb 2011.

- seen as rather dovish; has spoken in favour of letting inflation both rise and fall within the plus/minus 1 percent tolerance band around the bank's 3 percent inflation target.

===========HISTORY OF FIVE MOST RECENT RATE CHANGES============

September 2006: 25 basis point hike to current 2.50 percent

July 2006: hike by 25 basis points to 2.25 percent

October 2005: hike by 25 basis points to 2.00 percent

April 2005: cut by 25 bps to an all-time low of 1.75 percent

March 2005: cut by 25 bps to 2 percent

(Compiled by Marek Petrus in Prague) ((Editing by Gerrard Raven; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))

Keywords: ECONOMY CZECH CBANKERS

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