The Czech National Bank is unlikely to have to intervene in currency markets as much as it has in recent months when pressure against the crown was strong, Vice-Governor Eva Zamrazilova said on Sunday.
The central bank has intervened to prop up the crown since May as part of efforts to fight three-decade high inflation, as the crown and central European currencies faced pressure as an energy crisis triggered concerns about their economies and as rate hikes in the region come to an end while major global central banks started to lift their own rates.
"There were a lot of shorter, smaller, more expensive episodes, but I do not expect a return of those episodes in the foreseeable future," Zamrazilova said on a Sunday debate show on Czech Television.Zamrazilova voted in the 5-2 majority at the bank's Nov. 3 meeting to keep the main interest rate Zamrazilova said she expected inflation, which eased to 15.1% in October, could fall into single-digits in the second quarter of next year.
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