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Financials

Czech central bank's Rusnok: no reason to speed up FX cap exit

OSTRAVA, Czech Republic, Sept 13 (Reuters) - There is no reason for the Czech central bank to bring forward the expected exit from its weak crown policy, Governor Jiri Rusnok said on Tuesday, adding the bank would welcome a “robust” fulfillment of its inflation target.

Rusnok had earlier on Tuesday said the cap on crown strength the bank has had in place since 2013 would likely end sometime in the second half of 2017.

“We do not see the loose monetary conditions that we have today... are the source of any tension, (or) overheating of the economy,” Rusnok told a business leaders’ roundtable in the northeast industrial city of Ostrava.

“So we have no relevant reason to speed up the exit from the exchange rate commitment, (or) respectively to make any fundamental changes to this.” (Reporting by Robert Muller; Writing by Jason Hovet)

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