August 30, 2017 / 8:30 AM / a year ago

Czech central banker Mora: may be room to raise rates before year-end

PRAGUE, Aug 30 (Reuters) - The Czech central bank could have room to raise interest rates further before the end of the year, board member Marek Mora was quoted as saying on Wednesday.

“I would not be dramatically afraid of increasing interest rates further,” Mora said in an interview with news server

“If the current condition of the Czech economic performance prevails, then I personally believe that there could be room for a further interest rate increase by the end of the year.”

The Czech National Bank (CNB) raised interest rates from near zero at the beginning of August, its first hike in almost a decade, and Vice-Governor Mojmir Hampl told Reuters on Tuesday he saw the chance of another hike as early as September.

Central bankers have pointed to exchange rate uncertainty and Mora said crown positions held by foreign investors were acting as a “stabilizer” against currency firming. He added the European Central Bank’s loose policy was a limiting factor but only to a certain extent. (Reporting by Jan Lopatka and Jason Hovet)

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