MNI China Daily Summary: Thursday, May 16

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MNI BRIEF: CNB Cuts Reference Rate By 50Bps To 5.25%

(MNI) LONDON
(MNI) London

Czech National Bank lowers 2W repo, discount rate and Lombard by half a point as anticipated.

Czech RepublicHomepageEM Policy NewsRegionCEEMEAEM Policy StoryEM Central Bank NewsStoryCzech National Bank
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The Czech National Bank cut key rates by half a point as expected Thursday, to take the reference rate (two week repo rate) to 5.25%, the discount rate to 4.25% and the Lombard rate to 6.25%.

A press conference is scheduled for 3.45pm Prague time, at which it is anticipated governor Ales Michl will present new macroeconomic projections and may signal a possible in the pace of rate cuts in the coming months. (See MNI EM WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace)

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The Czech National Bank cut key rates by half a point as expected Thursday, to take the reference rate (two week repo rate) to 5.25%, the discount rate to 4.25% and the Lombard rate to 6.25%.

A press conference is scheduled for 3.45pm Prague time, at which it is anticipated governor Ales Michl will present new macroeconomic projections and may signal a possible in the pace of rate cuts in the coming months. (See MNI EM WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace)