Czech president to appoint central bank board members on Wednesday

The president, who has signalled he does not see a need for further rate hikes, has not said who he might pick to fill Michl's regular board seat or whether he will keep Nidetzky or Benda in place. The central bank has lifted its base rate by 550 basis points, to 5.75%, since last June.

Czech President Milos Zeman will appoint central bank board members on Wednesday, his office said on Tuesday without giving further details.

Zeman is due to decide on three of the Czech National Bank's seven board seats. His choices could potentially halt a year-long interest rate tightening path undertaken by policymakers battling inflation that is at a near three-decade high. Last month, Zeman appointed Ales Michl, a board member who has opposed the bank's tightening policy, to replace Jiri Rusnok as governor when Rusnok's mandate ends in July.

The terms of two other board members - Vice-Governor Tomas Nidetzky and Vojtech Benda - are also expiring, although they could be reappointed. The president, who has signalled he does not see a need for further rate hikes, has not said who he might pick to fill Michl's regular board seat or whether he will keep Nidetzky or Benda in place.

The central bank has lifted its base rate by 550 basis points, to 5.75%, since last June. Markets expect the board to deliver a final hike, taking the rate over 6%, when it meets for the last time in its current composition on June 22.

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