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Czech interest rates already at high level, central bank governor says

Reuters
Czech Crown coins are seen in front of a displayed logo of Czech central bank (CNB) in this picture illustration

PRAGUE (Reuters) - Czech interest rates are already at a high level that is dampening domestic demand pressures, central bank Governor Ales Michl said on Monday.

Michl said in a series of Twitter posts that three necessities were needed for reducing inflation: reducing state debt; preventing a wage inflation spiral; and keeping and stabilising interest rates at a higher level that what was seen in the past 10 years.

(Reporting by Jason Hovet)