Czech policy makers may be able to delay raising interest rates as the euro area’s debt crisis lowers the outlook for borrowing costs in the region, said Vladimir Tomsik, a central banker in Prague.
The Czech central bank should start selling the koruna for the first time in 11 years, driving up import prices by weakening the currency to bring inflation to its target, Vice Governor Vladimir Tomsik said.
The Czech central bank may be able to delay an increase in its interest rates as the euro-area’s debt crisis may keep the region’s borrowing costs lower for longer, Vice-Governor Vladimir Tomsik said.
The Czech central bank needs to relax monetary policy further to lift inflation toward its target, Vice Governor Vladimir Tomsik said.
"There was one quarter of revival, and the flash estimate for the third quarter shows we may return to recession."
- Vladimir Tomsik on Nov 20, 2013