off-the-wire

Czech central bank leaves countercyclical buffer rate for banks unchanged

Kitco Media
By Reuters
Published:
Updated:
Reuters
PRAGUE, March 9 (Reuters) - The Czech National Bank decided on Thursday to maintain the countercyclical buffer rate for banks at 2.50%. "The Bank Board took into account the current position of the Czech economy in the financial cycle, the size of accumulated credit risks in the banking sector's balance sheet and the evolution of its vulnerability," it said in its quarterly decision.


"It also took into consideration the persisting uncertainty regarding future geopolitical and economic developments, which is creating potential for increased and faster materialisation of the cyclical risks accumulated in the financial system." The extra buffer rate for banks, applied in periods of excessive lending growth, rose to 2.00% at the start of the year and is set to increase to 2.50% from April, based on past decisions.


(Reporting by Jason Hovet and Robert Muller)

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