CNB intervenes on forex market

The Czech National Bank is today intervening on the foreign exchange market with the aim of weakening the Czech crown's exchange rate.

"We are intervening on the basis of the assessment of the monetary situation at today's Bank Board meeting," said Board Member Luděk Niedermayer. The CNB does not customarily release technical details about its interventions.

The monetary policy conclusions of today's Bank Board meeting, including the reasons which have led the central bank to intervene and to leave rates at the existing level, will be explained by the CNB Governor Josef Tošovský at the regular press conference at 3.30 p.m. in the CNB building, entrance: 3 Senovážná Street.

Milan Tománek
CNB spokesman