Czech crown retreats after central bank unanimous on modest rate hike

PRAGUE (Reuters) – The Czech crown () retreated from four-year highs against the euro on Thursday, giving up earlier gains as some investors had expected the central bank to take a more hawkish stance in raising interest rates.

Earlier on Thursday the bank raised its main rate to 0.50 percent but in a later statement said the board had been unanimous in only making a 25 basis point hike. A dealer said there was some disappointment in the market as some central bankers had spoken earlier about the possibility of a bigger rate hike.

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