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Czech central bank models suggest mid-2017 end to cap on crown - Rusnok
December 14, 2016 / 8:36 AM / a year ago

Czech central bank models suggest mid-2017 end to cap on crown - Rusnok

PRAGUE, Dec 14 (Reuters) - The Czech central bank’s forecasting models suggest it will end its policy of capping the crown’s exchange rate around the middle of 2017, Governor Jiri Rusnok said in a video on the bank’s website.

“Our forecasting models show the Czech economy may meet the conditions around the middle of next year. We have to caution, however, that we do not even know the exact timing,” he said in the video blog posted on Wednesday.

“It depends on future developments not only at home but also abroad and to what extent our assessments materialise.”

A Reuters poll last week suggesting it was increasingly likely the bank would end its intervention regime around mid-2017. The poll was conducted after the release of stronger-than-expected inflation data and the European Central Bank’s decision to extend its bond-buying to December 2017 but at a lower monthly amount. (Reporting by Robert Muller and Jason Hovet; Editing by Hugh Lawson)

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