Czech Central Bank Holds Rates, Keeps Lid on Currency

The Czech central bank kept its Swiss-style lid on currency gains for an eighth meeting, capping 12 months of easing amid a worsening outlook in the euro area.

Policy makers in Prague also held their key interest rate at 0.05 percent for a 16th meeting, matching the estimates of all 17 analysts in a Bloomberg survey. The bank board confirmed its commitment to prevent the koruna from “excessive” gains beyond 27 per euro. The bank, which set the limit Nov. 7, 2013, now sees it staying in place until the first quarter of 2016.