March 17, 2020 / 9:58 AM / 20 days ago

Czech central bank board member Michl: I will never vote for FX interventions - interview for E15 news

PRAGUE, March 17 (Reuters) - Czech central bank board member Ales Michl would not support central bank interventions on the foreign exchange market, he said in an interview for news website posted on the central bank website on Tuesday.

“I will never vote for them. The current large exchange rate swings are also a tax for previous interventions. Positions from that time are being sold,” he said in the interview.

The interview was conducted after the central bank cut interest rates by 50 basis points on Monday and said it could cut more, and could also intervene on the foreign exchange market if needed, although it did not see that necessary now.

Reporting by Jan Lopatka

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