Former prime minister Jiří Rusnok joins central bank board

Former prime minister Jiří Rusnok on Friday joined the seven-member board of the Czech National Bank. The 53-year old economist and former finance minister was hand-picked for the post by President Miloš Zeman. He replaces Eva Zamrazilová whose six-year mandate on the board ended in February. Mr. Rusnok’s appointment, the first of five that the president is due to make during his term in office, is expected to soften the board's currently Eurosceptic outlook. The central bank determines the monetary policy of the country and decides on fundamental monetary policy measures. It is also responsible for supervision over the entire financial market, including banks, insurance companies and the capital market.