Czech central bank governor Jiri Rusnok in Prague, Czech Republic. Picture: DAVID W CERNY/REUTERS
Rusnok said the board’s decision still fell short of a rate increase assumed by the bank’s new economic forecast. The outlook sees three-month interbank rates, a proxy for official rates, peaking at 8.4% in this quarter. The board voted 5-2 for the hike, with two dissenters, Ales Michl and Oldrich Dedek, sticking to their long-held position against tightening.The koruna firmed after the announcement to 24.471/€ from 24.637 but gave back most of the gains to finish domestic trading at 24.53.
The three have been a solid part of the majority on the seven-member board that has backed the bank’s tightening cycle.
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