Czech central bank will not reveal FX intervention levels after dropping FX floor

PRAGUE: The Czech central bank will not reveal any intervention levels for the crown exchange rate after it abandons its weak-crown policy, a step the bank expects in mid-2017, the bank's monetary policy department chief said on Monday.

The bank has no plan to surprise markets by ending its commitment to keep the crown on the weak side of 27 per euro earlier than it communicates, Tomas Holub said in a presentation posted on the central bank's website.

He reiterated the bank also prefers a one-off exit from its intervention regime, but it cannot rule out an option which would include exit in more than one step.