Czech Sept rate hike reflected growth fcast -cbank

PRAGUE, Oct 6 (Reuters) - Czech central bank policymakers wanted higher interest rates last month to reflect their outlook for the economy's cycle further down the road, minutes from the Sept. 27 board meeting showed on Friday.

As the bank already announced after the monthly session, five out of seven policy board members voted to raise the key repo rate by a quarter of a percentage point to 2.50 percent, just two months after a similar hike in July.

The other two members advocated no rate change.

Minutes said a board majority agreed risks to the quarterly inflation forecasts were tilted "slightly" to the upside, while the dissenting view saw no fundamental price pressures and called for a delay in any rate increase.

Minutes said the board had re-assessed risks to the exchange rate outlook, saying they were now "more evenly" distributed on both upside and downside -- as opposite to previous months when the crown currency was seen working against inflation.

((Reporting by Marek Petrus; Editing by Alan Crosby; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))

Keywords: ECONOMY CZECH MINUTES