PRAGUE (Reuters) - The Czech crown (EURCZK=) retreated from four-year highs against the euro on Thursday, giving up earlier gains as some investors had expected the central bank to take a more hawkish stance in raising interest rates.
Earlier on Thursday the bank raised its main rate to 0.50 percent but in a later statement said the board had been unanimous in only making a 25 basis point hike. A dealer said there was some disappointment in the market as some central bankers had spoken earlier about the possibility of a bigger rate hike.