June 26, 2014 / 11:07 AM / 3 years ago

Czech central bank keeps weak crown policy in place

PRAGUE, June 26 (Reuters) - The Czech central bank left in place its policy of keeping the crown currency weak, as expected, on Thursday, with markets focussed on when a return to standard policy might come.

The bank has pledged to keep the crown from firming past around 27 to the euro until at least early 2015 but has said the probability of a later exit from the policy was rising.

Governor Miroslav Singer is due to comment on the central bank board’s decision at a press conference at 1215 GMT.

At a regular meeting on Thursday, the bank also kept its benchmark two-week repo rate at a record low of 0.05 percent, where it has been since November 2012.

The central bank intervened to weaken the crown currency last November to battle deflation risks.

While the export-reliant Czech economy is recovering from its longest-ever recession that ended a year ago, the bank said at its last meeting in May that risks to its macroeconomic outlook were slightly anti-inflationary. (Reporting by Jason Hovet and Robert Muller)

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