December 18, 2017 / 9:05 AM / a year ago

Czech central bank raises countercyclical buffer rate to 1.25 pct

PRAGUE, Dec 18 (Reuters) - The Czech central bank decided to raise the countercyclical buffer rate for domestic banks to 1.25 percent, from 1.00 percent, with effect from January 2019 to get ahead of “rapid” loan growth, it said on Monday.

“A number of factors spoke in favour of the increase. Rapid growth in bank loans, especially loans to households for house purchase and consumption, is continuing,” Czech National Bank Vice-Governor Vladimir Tomsik said.

“This buffer is aimed not at stopping lending, but at creating a buffer for worse times in the current good times.” (Reporting by Jason Hovet)

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