FACTBOX-Czech central bankers' recent remarks on policy

...Thursday's policy meeting before hiking by another quarter of a percentage point rate rise in July.

For a story on the meeting, double click on [ID:nL28434573].

The main policy rate stands at 2.75 percent , its highest in more than four years, following a 25 basis point increase in May aimed at containing budding inflation pressures in the fast-growing economy.

Forward-looking money market rates are discounting a high probability of a rate rise to 3.00 percent in July, another hike to 3.25 percent by September, and a further increase to 3.50 percent by December.

For a Reuters poll on analysts' interest rate expectations, click on [ID:nL22628428].

Following are extracts from recent comments from CNB board members.

=========================COMMENTS==============================

VICE-GOVERNOR MIROSLAV SINGER, REUTERS INTERVIEW, JUNE 18

"The assumption about a rise (in interest rates) is logical when the economy is running at full steam ahead."

"I think that when we balance the risks ... at the end of each of the coming months, then many people will probably say soon that this step is necessary, unless something significant changes the outlook."

STORY: [ID:nL18109004]

BOARD MEMBER PAVEL REZABEK, INTERVIEW WITH DOW JONES NEWSWIRES, JUNE 14

The CNB should not rush to raise interest rates prematurely, he was quoted as saying. "I am against unnecessarily strict monetary policy," he said.

STORY: [ID:nL14918039]

BOARD MEMBER ROBERT HOLMAN, REMARKS TO REUTERS, JUNE 12

"Based on the information that is available to me, there are no significant pro-inflationary risks, especially after the latest increase in interest rates."

"My picture about fast non-inflationary growth is still valid. I do not think it should change."

STORY: [ID:nL12732147]

BOARD MEMBER VLADIMIR TOMSIK, INTERVIEW WITH BLOOMBERG NEWS AGENCY, JUNE 12

Interest rates are "quite low" in the light of fast economic growth, Tomsik was quoted as saying. He added he "can't rule out" rate increases to combat "accumulating pro-inflationary risks", the news agency reported.

STORY: [ID:nL12565511]

JAN FRAIT, HEAD OF FINANCIAL STABILITY RESEARCH, NEWS CONFERENCE TO PRESENT ANNUAL REPORT OF FINANCIAL STABILITY, JUNE 12

"Fast GDP growth is being transformed into expectations which may become excessively optimistic ... and get reflected in wage demands, a rise in consumption financed by further loan growth and in the property market."

STORY: [ID:nL12336217]

MINUTES TO MAY 31 POLICY MEETING, RELEASED ON JUNE 8

"The majority of the board members agreed that the past downside risks to inflation were abating.

"It was argued that these downside risks had allowed interest rates to be kept below their equilibrium level and that their abatement meant convergence of current interest rates to these monetary policy neutral rates."

STORY:[ID:nPRA001339]

TEXT: [ID:nL08681605]

FACTBOX ON UPDATED CPI FORECAST: [ID:nL0428777]

GOVERNOR ZDENEK TUMA, NEWS CONFERENCE AFTER MONTHLY MEETING, MAY 31

"The forecast which we published last month is valid ... and it says that the forecast is consistent with a gradual rise in interest rates.

"Individual bank board members may take slightly different positions towards it, and may express differing opinions on the timing and the size of a rate move that will be required."

HIGHLIGHTS: [ID:nL31576172]

STORY: [ID:nL31276683]

(Compiled by Marek Petrus in Prague)

Click on [ID:nL28883806] for profiles of CNB board members

Keywords: CZECH CENTRALBANK/QUOTES