Czech cbank says board voted 5-2 to hold rates

19.12.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Five members of the Czech central bank (CNB) board voted to hold interest rates at a monthly policy meeting on Wednesday, while two voted for a...

...25 basis point hike, the CNB said in a statement.

The statement added that the board saw significant risks to the CNB's October inflation forecast in both directions, though they were roughly balanced overall.

It said the main risks to the forecast are higher November CPI and the second round effects of recent cost shocks. A stronger crown and the outlook for lower euro zone growth are also risks, the CNB said.

Earlier in the day the CNB said the board kept the main two-week repo rate at 3.50 percent , having doubled benchmark borrowing costs over the past two years. Wednesday's decision was in line with market expectations. (Reporting by Marek Petrus, Editing by Alan Crosby)

Keywords: CZECH RATES/CBANK

[PRAGUE/Reuters/Finance.cz]

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