Czech c.bankers say higher rates in offing - paper

...in check and does not target asset prices, CNB policy makers said.

In an article published by the daily Hospodarske Noviny on Thursday, CNB Vice-Governor Miroslav Singer and board member Vladimir Tomsik warned against tightening monetary policy only in an effort to prevent instability of the financial sector.

"An effort to establish higher interest rates in an attempt to prevent possible problems in the area of financial stability would be counter-productive because it would probably lead to an excessive appreciation in the crown," the two bankers wrote.

[PRAGUE/Reuters/Finance.cz]