Abstract:The aim of the paper is to verify whether the CNB behaved symmetrically in the period of 1998-2016 while fulfilling its basic mandate -price stability -and whether the decision to use the exchange rate commitment influenced the assessment of its symmetrical approach. The paper provides a comprehensive view of the CNB's symmetry, which is considered as the basis for the credibility of central bank behaviour in achieving the main objective -price stability. Based on analyses of deviations of inflation from the t… Show more
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