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The Impact of the Intervention of the Czech National Bank on the Consumers in the Czech Republic
Kratochvíl, Jan ; Svoboda, Roman (advisor) ; Kopecká, Lenka (referee)
This study concentrates on the situation of the Czech economy before and after the CNB intervention. The theoretical section covers economic terms that were and still are connected to today's currency market intervention. Those terms include different kinds of currency exchange and its establishment. Next is a money system connected with a buying power, as well as history and current situation of the Euro and the Czech crown, and the significance of gold. Further on, the banking system is analyzed, pointing out the specifics of the CNB and the role of commercial banks. The terms deflation and inflation are explained, with examples of countries where they are happening, and the role of international business, mainly import and export. In the analytical part, the impact on the Czech citizens is researched through a survey. 271 respondents, including students, employees, and business people, answered how the devaluation of the Czech crown impacted the citizens, how they felt about being informed about the situation through media, and if they understood what CNB did. The survey also asked if the opinions of respondents have changed after 2 years. At the end is an interview with a former member of the bank's board who made decisions about the interventions, reflecting her view of the Czech economy and Euro currency.
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