Czech central bank governor reiterates rates will remain higher than in past
PRAGUE, Aug 27 (Reuters) -Czech interest rate will remain higher than the standard in the past 10 years to keep inflation under control, Czech National Bank (CNB) Governor Ales Michl said on Tuesday.
"Long-term stabilisation of inflation will be a fight with the amount of money in the economy," he said in published notes from the Jackson Hole gathering of central bankers.
"Therefore, although we are in a period of lowering interest rates, it can be expected at least in the Czech Republic that interest rates will remain at a higher level than was the custom in the past 10 years."
The central bank slowed its easing pace this month, cutting by 25 basis points to bring the main repo rate to 4.50%, and said it would be very cautious in further easing.
Reporting by Jan Lopatka
Editing by Jason Hovet
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