Czech Central Bank Holds Key Policy Rate As Expected

(RTTNews) - Thursday, the Czech National Bank retained its key interest rate unchanged at a record low for the second straight rate-setting session in November.

The Board decided to hold the two-week repo rate at 1.25%, in line with economists’ expectations. Also, the discount rate was retained at 0.25% and the Lombard rate at 2.25%.

On August 7, the central bank had lowered its two-week repo rate by 25 basis points from 1.50%.

“We think today’s decision is unlikely to have been unanimous and believe that some CNB board members probably advocated a further reduction in interest rates,” Danske Bank analyst Stanislava Pravdova said. The recent correction in the Czech koruna could have played a role in taking a decision to hold interest rates, the analyst added.

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