Czech central bank Governor Singer said in interview with Mlada Fronta Dnes that the CNB will keep this rate for long, at this moment they see this for at least a year and a half. He said he fears that until the end of his term in office (June 2016), we will not see quickly rising inflation. The intervention is the equivalent of four interest-rate cuts, he said, and the economy currently needs an (unrealized) interest rate of -0.9%.