Central bank governor: board debating when to end forex interventions
The governor of the central bank, Miroslav Singer, said the bank board was debating when best to curtail the forex interventions launched last November to weaken the crown in order to avoid deflation. Mr. Singer said that the economic figures released in the first two months of this year were proof that the decision had been the right one and that the move had no stiffled economic growth. He said he expected a very mild strengthening of the crown once the interventions were concluded and noted that the board would not risk a premature decision to end the interventions and face the same problem. The central bank’s decision has come under fire from many politicians and analysts who said that weakening the crown was not a good decision at a time when the country was coming out of a drawn-out crisis.