Low crown interventions could continue into 2017

The Czech National Bank’s low crown policy could be prolonged with interventions in the currency markets during 2017, the head of the bank’s currency and statistical section Tomáš Holub said in an interview with the business daily Hospodářské Noviny onn Thursday. The central bank had previously indicated the policy would come to an end in 2016. The bank launched its low crown policy with interventions to prevent the crown strengthening beyond 27 crowns to the euro in November 2013. The move is aimed at boosting economic growth and moving inflation towards the 2.0 percent target.

Author: Chris Johnstone