Central bank vice governor: Growth due to currency intervention

This year’s forecast of 3 percent expansion of Czech gross domestic product can be attributed to an intervention to weaken the crown by the Czech National Bank in November, the bank’s vice governor Vladimír Tomšík said on a Czech Television discussion show on Sunday. Mr. Tomšík said the central bank aimed to ensure the currency remained at above 27 to the euro through 2016 and would intervene again if necessary to achieve this. The head of the Bohemian-Moravian Confederation of Trade Unions, Josef Středula, said the intervention had harmed employees and that the Czech National Bank’s claim it would create 30,000 jobs had proved false.