April 6, 2017 / 12:55 PM / 4 months ago

Czech central bank governor: tough to say when interest rates will need to rise

PRAGUE, April 6 (Reuters) - It is difficult to say at the moment when the Czech central bank will need to start raising interest rates, Governor Jiri Rusnok said on Thursday.

The bank on Thursday dropped a cap on the exchange rate of the crown, the first step toward tightening its ultra-loose monetary policy, but left the main repo rate at 0.05 percent.

Rusnok told a news conference he did not see at the moment high probability of raising rates up already on May 4 when the bank's board holds its next regular policy meeting but he could not exclude such a step. (Reporting by Robert Muller and Jan Lopatka)

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