Czech interest rates began rising rapidly halfway through 2021, because the central bank claimed it was the only way to stop runaway inflation. Oh well. As with just about everything else here, the evidence from one-quarter of the way through 2022 is that it’s not working. Land, for example, rose 25% during Q1 2022, according to data from the HB Index, which is based on sale prices from purchaess made by clients of Hypoteční banka. But . . .
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