Czech c.banker: No major conclusions from CZK moves

...important inflation factor in the country's open economy, Governor Zdenek Tuma said on Tuesday.

After meeting union leaders for annual talks on the economy, Tuma said he wanted to draw no dramatic conclusions from the currency's moves and would rather wait for further analysis in a quarterly update of the CNB's economic forecast, due on Oct. 25.

"I never draw any dramatic conclusions (from crown moves). I do not see any reason for the central bank to panic," he told reporters.

The CNB raised interest rates to a five-year high of 3.25 percent in August in the third such move this year, but a strong crown and uncertainty fed by the global credit crunch have led policymakers to signal a diminishing scope for more rate hikes.

[PRAGUE/Reuters/Finance.cz]