The Czech Senate rejected the lower chamber’s controversial amendments to the CNB act

The Czech Senate on Friday rejected the lower chamber’s controversial amendments to the CNB (central bank) act. The amendments are controversial since some of them would effectively restrict the central bank’s independence, and bring monetary policy under greater control from politicians. Despite the Senate’s rejection, the lower chamber will likely push the amendments through since the two parties that supported the amendments—the ODS and the ruling Social Democrats—have enough deputies in the lower chamber to override the Senate. Some of the amendments will not help the country’s sentiment among investors, but should not have a direct impact on equities.

(Ondřej Daťka)