Statistical data is used in various negotiations. There are many examples. Wage bargaining is strongly affected by the evolution of prices. So-called “inflation clauses” form part of many agreements, for example rental contracts. Statistical data also serve as a basis for the decisions of various authorities. Central banks are a specific category. They significantly affect the economic environment. To be able to perform their duties properly, central banks need high-quality statistical information. “Nothing is more important for monetary policy than good statistics”. This is how Alexander Lamfalussy, the former President of the European Monetary Institute, the predecessor of the European Central Bank, characterised the importance of statistics for successful monetary policymaking. This year marks the fifteenth anniversary on the path of transformation from a centrally controlled economy to a market economy. All areas of our life underwent dramatic changes, statistics being no exception. In the early 1990s, the Czech National Bank worked in close co-operation with the International Monetary Fund. Individual missions visited us several times a year. Statistics was one of the first areas in which such co-operation was established. This is entirely logical, since without the creation of a basic statistical framework it would not have been possible to communicate on monetary policy matters. Among the most important outcomes was a creation of monetary survey. This survey made it possible to compile monetary and credit aggregates. One of the preconditions for influencing the money supply was to establish what is known as the “monetary base”.

Zdeněk Tůma: The importance of statistics - a central banker’s view Introductory speech by Mr Zdeněk Tůma, Governor of the Czech National Bank, at the conference “Statistics - investment in the future”, Prague, 6 September 2004. *  *  *  Good morning, Ladies and Gentlemen, Let me join my distinguished colleague, Head of the Czech Statistical Office, Mr Fischer and welcome you to this conference at the Czech National Bank’s Congress Centre. One reason the Czech National Bank is co-organising this event is our own involvement in the statistical field and consequently a close co-operation with the Czech Statistical Office. Statistics is somewhat overlooked by the general public who does not perceive it as an area of primary significance, unlike matters such as privatisation, corruption, bankruptcies, problems of the banking sector, functioning of the courts, law enforcement and the other major transformation issues. The less statistics is the subject of attention-grabbing articles and reports in the media, the more systematic work it requires. Work that is often very demanding, particularly as regards to data consistency and detailed profiles. Indeed, it is the level of detail which is subject to sensitive evaluation. That is why, one of the most difficult tasks in statistics is to strike a balance between the amount of information required and the burden laid on respondents. Statistical information is used not only for passive monitoring of past developments and their disclosure in statistical publications, but also as a basis for real-life decision-making by economic agents.