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CEE central banks resort to joint verbal intervention

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Central Europe’s central banks took the unprecedented step of joint verbal intervention to support the region’s currencies on Monday, saying a sharp drop in recent months did not reflect economic fundamentals.
Czech central bank Governor Zdeněk Tůma said markets should differentiate between countries like Latvia, which are in bigger trouble than say, the Czechs, and a debate on aid for the region could help make those distinctions clear.

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