Final Word from Tuesday, April 26, 2022

One of the few top positions in the country never held by CNB Gov. Jiří Rusnok is that of president, but he has stated repeatedly that he's not running. That hasn't stopped Andrej Babiš from attacking him as though they were future second-round opponents. Babiš's criticism of the CNB's interest-rate policy serves to box in the future presidential candidate or candidates of the ruling coalition, because the Fiala government has embraced the CNB's monetary policy as if it were its own. Would the coalition parties choose a candidate who didn't share their enthusiasm for fighting a crisis by pumping up interest rates? Or one who wanted to spend the country out of the crisis, as Babiš does? Or one who preferred a negotiated settlement in Ukraine, as Babiš now does? If the coalition partners want an anti-Babiš candidate to become the next president, they'll have a better chance if they give him or her some issues that can win an election. Supporting higher interest rates isn't one of them. [ Czech Republic Russia war Ukrainian Czech National Bank Petr PM ]