Czech c.bank mins:Turbulence not harming economy

...policy settings, the central bank (CNB) said in the minutes of an Aug. 30 monetary policy meeting.

The bank said it was mentioned at the meeting that a recent firming of the crown currency could not be explained by fundamentals and was linked to the closing of carry trades.

Some board members viewed the crown's firming, and the uncertain outlook, as a significant downside risk to inflation, the minutes said.

As reported by the central bank immediately after the meeting, the board voted 4-3 at the meeting to raise interest rates by 25 basis points at the meeting, bringing the key two-week repo rate to 3.25 percent.