Czech deputy sees "significant" rate rise

The Czech central bank should raise rates "significantly" to keep inflation on target, says Ludek Niedermayer, the Czech central bank's deputy governor.

Niedermayer told Thomson Financial News in an interview last week that the changing structure of the economy means that the central bank could not simply rely on an appreciation of the Czech crown to bring inflation down.

"In the past the crown was appreciating and this reduced the inflationary pressures on the economy," Niedermayer said before