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Czech central bank to keep koruna weak until 2016

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The Czech central bank will extend its weak-koruna policy at least into the start of 2016 and may again devalue the national currency if the current disinflationary environment worsens, the bank’s governor said Thursday. There have been some encouraging signs of economic recovery in Europe and after years of stagnation local wages are likely to grow quickly later this year and next, which is positive for the Czech economy, Miroslav Singer said.

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