Czech president appoints economist Seidler to central bank board
Adds details, comment throughout
PRAGUE, Oct 30 (Reuters) -The Czech president on Wednesday appointed economist Jakub Seidler to the Czech National Bank (CNB) board to replace outgoing rate-setter Tomas Holub from December.
Seidler has been chief economist for the Czech Banking Association since 2021, after working as an economist for Dutch bank ING for seven years.
He started his career in 2008 at the CNB, holding various positions in financial stability and monetary policy.
The appointment will be President Petr Pavel's first and likely only pick to the seven-member CNB board in his current term, as other members' terms last beyond his.
Interest rates soared to more than two-decade highs amid the inflation surge of 2022-2023, but the bank has been easing policy since last December now that price growth is back near target.
The bank cut its main rate CZCBIR=ECI by 25 basis points to 4.25% at its last meeting in September and meets one more time next week under the current board composition. Holub had voted for a deeper 50-basis-point cut in September.
Seidler in a statement said he would not comment on future monetary policy, but said in his past assessments of the economy and central bank action he had placed emphasis on incoming data, financial market development, and the degree of uncertainty of future development.
"These factors will be key for me not only at my first monetary policy decision in December," he said.
Interest rates are nearing their neutral level, which the bank has traditionally seen at around 3%, but the board has debated what that should be after price surges of recent years.
Governor Ales Michl has repeatedly said rates will be higher in the future than levels that were usual in the past.
Inflation picked up to 2.4% year-on-year in September, staying near the bank's 2% target, and some analysts said it left a path open to further interest rate cuts.
Reporting by Jason Hovet; Editing by Jan Harvey
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