PRAGUE: The Czech central bank will not sacrifice its inflation target by keeping monetary policy loose longer than needed, board member Oldrich Dedek said on Friday.

Dedek spoke in response to an analyst question about the bank's alternative forecast scenario that saw prolonged anti-pandemic measures that would weigh on the bank's baseline outlook which sees three interest rate hikes in the second half of this year, despite a stronger crown currency than previously predicted.

The bank's board said on Thursday that it saw substantial risks to the baseline outlook which could mean smaller need for interest rate tightening than predicted.