GO
Loading...

Czech c.bank minutes: current FX appreciation surprising

PRAGUE, Oct 5 (Reuters) - The current Czech crown firming is surprising and stronger appreciation will need to be taken into account in future monetary policy deliberations, central bank board members repeatedly said, according to the minutes of the bank's Sept. 27 meeting.

The central bank cut the key two week repo rate to an all-time low 0.25 percent last week to prop up demand in the recession-hit economy.

Governor Singer had said the board agreed FX interventions would be the next easing tool, should the bank wish to loosen policy more than what is left on the record low interest rates.

The minutes showed the board did not agree whether such interventions were needed. But "actions that would directly affect the exchange rate" would be the preferred tool for the board, the minutes showed.

For TEXT.................................... For HIGHLIGHTS from Sept 27 mtg............. For STORY from Sept 27 mtg..................

(Reporting by Jana Mlcochova; Editing by Jason Hovet)

((jana.mlcochova@thomsonreuters.com)(+420 224 190 479)(Reuters Messaging: jana.mlcochova.reuters.com@reuters.net))

Keywords: CZECH CBANK/MINUTES