Czech koruna may gain more than predicted

The koruna should appreciate by more than previously predicted, according to minutes from the 25 October board meeting of the Czech National Bank.

They left the two-week lending rate at 3.25% for a second month in a 5-2 vote last week, having upped rates three times earlier this year. The new inflation outlook suggests slower interest rate rises than seen in July, the central bank said in a notice published on Friday.

The mid-point expectations for headline inflation is 5.1% in September 2008

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