Czech National Bank revises down growth forecast

The Czech National Bank on Thursday revised its economic growth forecast for 2014 down to 2.5 from its previous July estimate of 2.9 percent. Next year’s growth which it previously estimated at 3.0 percent was also revised down to 2.5 percent. In 2016 the central bank predicts a growth of 2.8 percent. At a press briefing in Prague the bank’s governor, Miroslav Singer, confirmed that the forex interventions launched last year would not let up before 2016.