Lubomir Lizal of the CNB board said for local press that the board is not addressing the issue of negative interest rates and agreed instead on currency intervention. With interest rates technically at zero, he said, currency intervention is a much quicker and more effective tool of monetary policy. It takes about half a year for intervention to be reflected in domestic prices, he said, which is a signal to him that the CNB does not need to intervene so soon, he said.