{
  "title": "Czech Republic: Staff Report for the 2014 Article IV Consultation",
  "publication": "IMF Staff Country Reports, September 2, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/czech-republic-staff-report-for-the-2014-article-iv-consultation-41868",
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  "summary": "Growth is gaining momentum, led by strong external demand while domestic demand is also picking up. The central bank’s foreign exchange intervention policy has helped stem deflationary pressures but inflation is still well below target.",
  "sections": [
    {
      "heading": "Macroeconomic outlook and growth",
      "content": "- Growth is gaining momentum, led by strong external demand while domestic demand is also picking up.\n- The challenge for the authorities is to create the conditions for strong and sustainable growth while maintaining macroeconomic stability."
    },
    {
      "heading": "Monetary policy and inflation",
      "content": "- The central bank’s foreign exchange intervention policy has helped stem deflationary pressures but inflation is still well below target.\n- Subject tags relevant to this theme: Exchange rates, Foreign exchange, Inflation, Inflation targeting, Monetary policy, Prices, inflation expectation, downside inflation risk, food price inflation."
    },
    {
      "heading": "Fiscal policy and fiscal stance",
      "content": "- Following substantial fiscal adjustment over the past three years, an easing of the fiscal stance is underway.\n- The new government’s medium-term fiscal plans have not yet been fully elaborated.\n- Subject tags relevant to this theme: Fiscal policy, Fiscal stance, deficit, excise tax tax hike."
    },
    {
      "heading": "Financial sector and supervision",
      "content": "- The financial system is sound and resilient to shocks.\n- Improvements in the regulatory and supervisory architecture are ongoing.\n- Subject tags relevant to this theme: Financial system, ISCR, staff appraisal, regulatory and supervisory architecture.\n\n---\n\n Content in this bundle\n\n- cr14256\n  - cr14256 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr14256 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 2, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484393383.002",
    "Growth is gaining momentum, led by strong external demand while domestic demand is also picking up.",
    "The challenge for the authorities is to create the conditions for strong and sustainable growth while maintaining macroeconomic stability.",
    "The central bank’s foreign exchange intervention policy has helped stem deflationary pressures but inflation is still well below target.",
    "Subject tags relevant to this theme: Exchange rates, Foreign exchange, Inflation, Inflation targeting, Monetary policy, Prices, inflation expectation, downside inflation risk, food price inflation.",
    "Following substantial fiscal adjustment over the past three years, an easing of the fiscal stance is underway.",
    "The new government’s medium-term fiscal plans have not yet been fully elaborated.",
    "Subject tags relevant to this theme: Fiscal policy, Fiscal stance, deficit, excise tax tax hike.",
    "The financial system is sound and resilient to shocks.",
    "Improvements in the regulatory and supervisory architecture are ongoing.",
    "Subject tags relevant to this theme: Financial system, ISCR, staff appraisal, regulatory and supervisory architecture.",
    "**_cr14256**"
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