PRAGUE, Feb 6 (Reuters) - The Czech central bank (CNB) left borrowing costs near zero on Wednesday and said its new forecast continued to imply further monetary policy easing although it was seen as less urgent.
Following are comments by Governor Miroslav Singer at a news conference following the bank's meeting:
'The gist of the forecast is that we may need monetary policy easing. The need may look less urgent but still is here. The urgency change is due to the fact that monetary policy conditions relaxed due to foreign exchange rate easing. That's were we stand now.'
'It seems that the present level of rates is slightly closer to the border... where we would be deciding whether to intervene or not. (The rate forecast) has approached the border when further easing should be needed.'
'It is important to realize that we moved closer to this border mainly because the market is looking ahead and it has contributed to the easing of monetary conditions already now through the weakening of the exchange rate.'
(Reporting by Jana Mlcochova and Robert Mueller) Keywords: CZECH RATES/HIGHLIGHTS
(firstname.lastname@example.org)(+420 224 190 479)(Reuters Messaging: email@example.com)
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.