Czech c.bank starts meeting, no rate change seen

...might consider raising interest rates but decide to hold off on credit tightening until next month.

Only five of the seven policy board members will be at the meeting, which follows a quarter of a percentage point hike last month bringing the main rate to 2.75 percent , its highest in more than four years.

Vice-Governor Miroslav Singer, a moderate now showing signs of hawkishness, and dovish board member Robert Holman do not attend.

The CNB usually publishes an interest rate announcement sometime after 12 p.m. (1000 GMT). It has called a news conference for 3:30 p.m. (1330 GMT).

All but one of the 15 analysts polled by Reuters last week expected the CNB to take a break from raising interest rates on Thursday, saying policymakers will prefer to wait for a quarterly update of their inflation projections due in July.

The one exception forecasts a 25 basis point hike. [CNB/INT]

But several market watchers have since said the crown's fall to 15-month lows versus the euro this month, extending its losses to more than 4 percent so far this year, shortened the odds on a surprise hike to 3.0 percent as early as Thursday.

A weak currency fans inflation concerns in the open economy.