RPT-FACTBOX-Czech central bankers' recent remarks on policy

...the past few weeks have led many investors to believe that 
policymakers may raise interest rates at their May 31 meeting. 
    The main policy rate has held at 2.50 percent  
, the lowest level in the European Union, following 
increases totalling 75 basis points between October 2005 and 
September 2006. 
    Forward-looking money market rates  are pricing in 
almost fully a rise in the policy repo rate to 2.75 percent this 
month, another hike to 3.00 percent by August, and additional 
increase to 3.25 percent by December, according to Reuters data. 
    For a Reuters poll on analysts' interest rate expectations, 
click on [ID:nL23361023] 
    Following are extracts from recent comments from CNB board 
members. 
 
 =========================COMMENTS============================== 
 
    BOARD MEMBER ROBERT HOLMAN, REMARKS TO REUTERS AFTER A 
SEMINAR, MAY 22 
    "The data that we have obtained so far are not troubling 
enough to require a rise in interest rates." 
    STORY: [ID:nL22287045] 
     
    VICE-GOVERNOR LUDEK NIEDERMAYER, REUTERS INTERVIEW, MAY 21 
    "The data we have seen since the start of the year show that 
monetary conditions should be tighter." 
    "All the signals head only in one direction, and I say it is 
wrong to react to inflation only once I have seen it cropping up 
in data." 
    STORY: [ID:nL21519402] 
     
    TOMSIK, REMARKS TO REUTERS AFTER A SEMINAR, MAY 17 
    "We are waiting for the confirmation of inflation signals 
... and an analysis of the staff of the development of core 
inflation and whether there is a risk of delay." 
    "We are watching and closely evaluating the risk of a delay 
because the inflation forecast is consistent with a gradual rise 
of interest rates on the entire forecast horizon." 
    STORY: [ID:nL17192994] 
     
    VICE-GOVERNOR MIROSLAV SINGER AND BOARD MEMBER VLADIMIR 
TOMSIK, JOINT ARTICLE IN DAILY HOSPODARSKE NOVINY, MAY 17 
    "The time when the CNB will be raising interest rates is 
probably approaching today." 
    STORY: [ID:nL17350404] 
     
    MOJMIR HAMPL, REUTERS INTERVIEW, MAY 14 
    "We are not in a situation when we need to slam on the 
brakes tomorrow or after tomorrow." 
    "According to my personal perception of things, I would put 
the timing of a turn towards tightening the monetary screws in 
the second half of the year." 
    STORY: [ID:nL14575762] 
     
    TOMAS HOLUB, HEAD OF MONETARY AND STATISTICS DEPARTMENT, 
REUTERS INTERVIEW, MAY 9 
    "If the crown stabilises at present levels, the effects of a 
firm currency will be fading away, bringing about pressure on 
core inflation to rise." 
    STORY: [ID:nL09168958] 
     
    MINUTES TO APRIL 26 POLICY MEETING, RELEASED ON MAY 4 
    "It was said several times that unemployment was coming down 
fairly rapidly and that this might signal the onset of wage 
inflation pressures." 
    "However, it was also said several times that strong 
competition, inflow of labour from abroad, capitalisation of 
labour and growing mobility on the labour market were putting 
the brakes on these pressures." 
    STORY:[ID:nL04360354] 
    TEXT: [ID:nL04290427] 
    FACTBOX ON UPDATE CPI FORECAST: [ID:nL0428777] 
     
    GOVERNOR ZDENEK TUMA, NEWS CONFERENCE AFTER MONTHLY MEETING, 
APRIL 26 
    "It seems to me that at least among some members of the bank 
board, and I dare to say among most of them, now has a 
prevailing opinion that it is becoming more likely that the next 
move in interest rates will be upwards. 
    HIGHLIGHTS: [ID:nL26319843] 
    STORY: [ID:nL26624395] 
 
  
  Keywords: CZECH CENTRALBANK/QUOTES  
    

[Reuters/Finance.cz]