CNB Gov. Miroslav Singer said at a conference in Vienna yesterday that if the central bank needs to weaken the crown, it will not set a target rate for it. He said it is very unlikely that he would propose something similar to Switzerland’s use of a stable rate against the euro. The CR is still a converging economy, he said, so it cannot consider having a stable exchange rate. More likely, he said, is something like what Singapore did. It set a fluctuation range. Singer said that the CNB board would likely decide at each meeting on an appropriate rate for the crown.