Czech c.bank starts mtg, one member not attending

...market expectations they will hold credit costs steady for the sixth month running.

A CNB spokeswoman said board member Robert Holman was the only policymaker not to attend the policy session which started at 9 a.m. (0700 GMT) with the presentation of a monthly report on monetary and economic developments.

The CNB has no set time for an interest rate announcement but usually publishes a statement between 12 p.m. and 1 p.m. (1000-1100 GMT).

A news conference is scheduled for 3:30 p.m. (1330 GMT).

Financial markets expect the main two-week repo rate to hold at 2.50 percent as benign price pressures in the booming economy require no urgent policy tightening.

The rate has stuck at the lowest level in the European Union and a record 125 basis points below the euro zone benchmark, following 75 basis points of tightening between October 2005 and September 2006.