For instance, the Czech central bank puts the potential growth rate of the Czech economy at 2-3% per annum. Income differentials vis-à-vis the European Union will consequently persist for some time to come. In fact the policy challenges of the accession countries lie in furthering structural reforms aimed at raising the growth potential. Economically, structural and real convergence towards the EU interact.
Around twelve days prior to the Board meeting, we in the Economic Group hold a staff meeting to focus on the available economic information. We review data on the rest of the world, domestic economic activity, prices, wages, the labour market, and financial conditions.