Czech central bank not in FX market since last meeting, Dedek says

PRAGUE (Reuters) – The Czech National Bank has not been present in currency markets to defend the crown since its last policy meeting on Nov. 3, but stands ready to prevent excessive fluctuations in the market, board member Oldrich Dedek told Czech Television.

The bank left interest rates stable for a third straight meeting last week but has maintained a commitment to intervene in FX markets if needed to keep the crown from weakening.

Dedek told Czech TV the bank saw inflation near a peak but it should stay cautious, speaking in an interview broadcast late on Thursday evening and published on the bank’s website on Friday.

(Reporting by Robert Muller, writing by Jason Hovet)