Czech Central Banker Holub Advocates for Further Increase in Interest Rates

The Czech central bank should raise interest rates further to prevent high inflation from becoming entrenched in the economy, board member Tomas Holub said on Sunday.

Holub has been calling for higher borrowing costs since the central bank’s revamped leadership halted rapid monetary tightening last summer. He and two other board members unsuccessfully sought a rate hike at the central bank’s May 3 monetary meeting, while the remaining four policymakers voted for no change.

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