September 29, 2016 / 12:22 PM / a year ago

Czech still sees end of weak FX policy in mid-2017, definitely not before Q2

PRAGUE, Sept 29 (Reuters) - The Czech central bank board reiterated on Thursday it expected to remove a cap on exchange rate strength, used to support price growth, in the middle of 2017, in line with its previous policy outlook.

At the same time, the bank delayed by three months its "hard" commitment declaring the cap keeping the crown on the weak side of 27 per euro would not be removed before the second quarter of 2017. Previously, the bank said the commitment would not be ended before the beginning of the next year.

The bank said the board saw risks to the bank's current economic forecast as balanced.

Reporting by Jan Lopatka and Robert Muller

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