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MNI BRIEF: Czech 50Bp Cut Leaves 2W Repo Rate At 5.75

(MNI) LONDON

Czech National Bank confirms expectations of half-point reduction as it takes safety-first approach to lowering rates

Czech RepublicHomepageBellEM Policy NewsEM ExclusiveRegionCEEMEAEM Policy StoryEM BriefEM Central Bank NewsStoryCzech National Bank

The Czech National Bank cut interest rates by 50 basis points for a second month in a row to take the key two-week repo rate to 5.75% on Wednesday, with the discount rate at 4.75% and the Lombard rate now 6.75%.

A half-point reduction had been expected, with several Bank Board members erring on the side of caution in statements leading up to the meeting, with February’s CPI inflation at 2.0%. (See MNI CNB WATCH: 50bp Cut Seen As Bank Opts For Caution)

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The Czech National Bank cut interest rates by 50 basis points for a second month in a row to take the key two-week repo rate to 5.75% on Wednesday, with the discount rate at 4.75% and the Lombard rate now 6.75%.

A half-point reduction had been expected, with several Bank Board members erring on the side of caution in statements leading up to the meeting, with February’s CPI inflation at 2.0%. (See MNI CNB WATCH: 50bp Cut Seen As Bank Opts For Caution)