[14.01.2015 12:30 UTC] Chris Johnstone
Crown recovers after comments by central bank governor
The Czech crown continued to rebound from its recent weakness on Wednesday morning. At one stage it had firmed around 0.4% against the euro and almost 0.7 percent against the dollar. The recovery started late Tuesday after Czech National Bank governor Miroslav Singer said in a blog that he saw no reason for the bank to react to low inflation figures caused by weak oil prices and falling food costs. December’s annual inflation figure was just 0.1 percent sparking fears the bank might shift its target exchange rate for the euro lower than the current 27 crowns.
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