Keeping the Czech National Bank's interest rates higher for a longer period would work better against inflation than implementing further hikes only to reverse them soon after, central bank board member Karina Kubelkova said.
The central bank has consistently voted 5-2 to keep interest rates steady since it last lifted its main rateSince joining the central bank last July, Kubelkova has been part of the majority in favour of stable rates.
"The transmission into the real economy will be bigger than moving the rate higher and back over a short time," she said. Analysts see rates staying stable for the first half of 2023 before the bank begins lowering borrowing costs.Data for January, when a jump is expected mainly due to new energy contracts for households, is set to come out after the central bank's next policy meeting on Feb. 2. Central bankers are also watching out for companies' repricing activities to start the year.
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