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| Czech central bank sees another rate rise amid strengthening crown |
| Prag, 04.02.2018 |
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| One rate rise down, probably one still to go this year. That is how Czech central bank governor Jiĝí Rusnok summed up the situation after the bank board took the largely expected decision to raise the key interest rate by 0.25 percentage points to 0.75 percent.
Its the third interest rate in a row since the so-called low crown policy was jettisoned last year and the crown allowed to float against the euro. The Czech National Bank is sticking its neck out a bit compared to other European banks with its series of rate rises. Rusnok argues that high growth, strong wage rises, and above target inflation justifies the steps so far.
The move was largely expected and, according to Rusnok, was unanimous though there was, he said, some hesitation whether the move might not be delayed a bit.
He added that there had been no talk of increasing rates by a bigger margin. A quarter percentage point is seen as a fairly standard step for what are traditionally cautious and conservative institutions.
odkaz na stránku |
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