November 15, 2019 / 2:13 PM / a month ago

Czech central bank governor Rusnok says policy in line with situation

PRAGUE, Nov 15 (Reuters) - Czech interest rates correspond to the current phase of the economic cycle although they are not yet at normal levels following the exit from non-standard policies, central bank Governor Jiri Rusnok said on Friday.

“We managed to exit the unorthodox, exceptional monetary tools much faster (than the ECB) and we even have shifted in the direction of normal interest rates, certainly not sufficiently yet, however it more or less corresponds to our situation, our target,” he said at a debate at an economics university.

The bank’s board voted to keep the main interest rate flat at 2.0% last week, despite its economic forecast suggesting a hike now and another one in the next quarter before easing again later in 2020. (Reporting by Robert Muller Writing by Jan Lopatka)

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