Raising the Czech National Bank's interest rates further would still make sense as it could serve as a signal that the central bank has not given up on its efforts to tame inflation, board member Tomas Holub said on Sunday.
The central bank has kept its main interest rate at 7.00% since last June when it delivered the last hike in a year-long tightening cycle.
"The situation that rates have been unchanged for a long time makes people think that the central bank is not doing enough, and from my point of view even the signal effect of a further increase in interest rates would be significant," Holub said in a televised debate. When asked if a hike would make sense at the next monetary policy meeting on June 21, Holub, who has consistently backed rate hikes, said yes.
"If we have the risk of a wage-inflation spiral here, then sending the signal is still meaningful to me," Holub said. The central bank expects inflation, which eased to 12.7% year-on-year in April, to come down nearer its target early in 2024.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XYZ Films Closes Raft of Deals on Czech Sci-Fi Feature ‘Restore Point’ (EXCLUSIVE)XYZ Films has closed a raft of deals for Czech filmmaker Robert Hloz’s science-fiction feature “Restore Point,” which is part of the company’s recently launched New Visions slate of genre films. Th…
Read more »
Ashford native reflects on growing up and raising a family in the cityAshford natives are able to enjoy the new amenities while reminiscing on the way things were.
Read more »
Iowa teachers banned from raising gender identity with studentsIowa teachers will be banned from raising gender identity and sexual orientation issues with students through grade six, and all books depicting sex acts will be removed from school libraries, under a bill Republican Iowa Gov. Kim Reynolds signed Friday.
Read more »
Uyghur Scholar Is Missing in Hong Kong, Rights Group Says, Raising Fear of DetentionA Uyghur scholar disappeared after traveling to Hong Kong from Seoul this month, a human-rights group said, raising fears he may have been sent to mainland China
Read more »
Untangling the Drama Around the Taylor Swift–Ice Spice RemixThe collaboration with Ice Spice has only served to further offend fans who are less than pleased that Swift appears to be dating musician Matty Healy
Read more »
Effort to fix payroll error for state National Guard troops falls short in Texas SenateAn effort to reimburse thousands of National Guard troops who racked up a combined $9.3 million in federal taxes because of a paycheck error while serving on Gov. Greg Abbott’s border security mission has fallen short of key legislative deadlines.
Read more »