October 5, 2018 / 4:58 PM / 8 months ago

UPDATE 1-Czech president will appoint Holub to central bank board

(Adds details on Holub, changes sourcing)

PRAGUE, Oct 5 (Reuters) - Czech President Milos Zeman will appoint Czech National Bank’s monetary department chief Tomas Holub to the central bank board, the president’s spokesman said on Friday.

Two vice-governors will complete their terms on the seven-seat board at the end of November and Zeman has already said he would replace one of them with economist Ales Michl.

Tomas Holub joined the central bank in 2000 as an advisor to a board member. He has been in charge of the monetary department, whose key task is to prepare a quarterly macroeconomic outlook for the board, since 2004.

Analysts say both Holub and Michl favour raising rates.

The central bank has raised its main two-week repo rate to 1.50 percent in six steps since August 2017, as the economy is showing solid growth. The growth, a labor shortage and strong domestic demand has created inflationary pressure.

The outgoing vice-governors Vladimir Tomsik and Mojmir Hampl are the last board members appointed by the previous president, Vaclav Klaus. (Reporting by Robert Muller Editing by Matthew Mpoke Bigg)

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