Million Moments for the CNB

Even Bohuslav Sobotka, who definitely was not the politician who inspired the creation of the Million Moments for Democracy protest group, had harsh words for the Czech National Bank's monetary policy. Sobotka said two weeks after the devaluation of the crown on Nov. 7, 2013, that the cabinet should be involved in an "objective and stern review" of the CNB's decision. The only real surprise at the Million Moments demonstration on Sun. was the group's sudden support for the CNB. "You would say that no politician would dare to try to take it on," Chair Mikuláš Minář said, "because it's supposed to be by law entirely independent. Yet Andrej Babiš dared to try to dictate to the CNB the interest rates it should set." It's true that Babiš called for a CNB rate cut to 0.5%. It's also true that the cabinet, unlike in the case of the ombudsman, has absolutely no authority over the CNB. Taking the side of the CNB and the bankers it is enriching was not one of Minář's stronger moments.