Czech central bank holds rates

Thursday's meeting of the Czech National Bank's governing board ended with rates being held at 2.25%, a spokeswoman said.

The decision follows July's four-to-three vote by the seven-strong governing board to raise rates by a quarter point: the first rise in nine months. Despite the move, interest rates in the Czech Republic remain the lowest in the European Union.

The central bank has recently been alarmed by the possible effects of an expansionary state budget draft for next year. Miroslav Si