Czech National Bank to continue forex intervention regime

The Czech National Bank has decided to continue intervening against the Czech crown to keep the exchange rate at around 27 crowns per euro, the bank’s spokesman Tomáš Zimmerman said after a meeting of the bank board on Thursday. The bank will also leave interest rates unchanged at all-time lows. The base interest rate is 0.05 percent. The Czech National Bank launched currency interventions in November 2013 to head off the danger of deflation and weakened economic growth.