Czech rates on hold, hikes to follow

- Central Banking staff
- 28 Jun 2007

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The Czech central bank voted 4-1 to keep interest rates on hold at 2.75% on 28 June during its monthly policy meeting. Central bank chief Zdenek Tuma said there was every reason to increase borrowing costs, but that it had not been vital that the central bank do so this month after a rise in rates in May.

Analysts expect the bank to raise rates at least once more this year, with July seen as a most likely time for the next hike.

"If we increased the rate this month, it would feel like a panic

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