Record oil prices pose no a major risk to the Czech Republic's economic stability, the head of the Czech central bank's financial stability research division said Tuesday.
"High oil prices could impact the real economy and then financial sector, but the koruna's appreciation has lessened the oil price effect and we don't see any big risk to financial stability for now," Katerina Smidkova said at a conference on financial market stability.
Central bank board member Robert Holman, speaking at the same event, said that the weakening dollar and rising oil prices have prompted investors to seek a safe haven for their investments.
Some investors have opted for the Czech currency, he added.
The Czech koruna has strengthened nearly 15% against the euro since early July last year, in turn reducing the inflationary impact of high oil costs.