Czech interest rates will stay relatively high for some time and a cut cannot yet be expected, with cost inflation pressures still strong from abroad, central bank Governor Ales Michl said on Monday in a commentary in daily Mlada Fronta Dnes (MfD).

Michl wrote that demand pressures from the domestic economy were easing but pressures from abroad would stay significant into the first half of next year.

He said there was a threat of inflation staying higher for longer if money growth continued to rise strongly. (Reporting by Jason Hovet; Editing by Tom Hogue)