FOREX TradingCharts.com

Financial News: Czech Central Bank Raises Rates For Second Time

Czech Central Bank Raises Rates For Second Time This Year

11/02/2017 - 09:18:00 (RTTNews)

(RTTNews) - The Czech central bank raised its key interest rate on Thursday for a second time this year in a bid to check high inflation amid strong growth.

The bank board decided to increase the two-week repo rate by 25 basis points to 0.50 percent, the Czech National Bank said in a statement. The decision was in line with economists' expectations.

The bank also hiked the Lombard rate by 50 basis points to 1 percent and kept the discount rate unchanged at 0.05 percent.

In August, the bank had raised the key rate by 20 basis points, which was the first hike since February 2008. The move was also the first change in interest rates since November 2012, when the repo rate was cut to technical zero.

The CNB had abandoned a three-and-a-half-year long ceiling on the appreciation of the koruna in April.

Inflation climbed to 2.7 percent, which is near the bank's target of 2 percent, and core inflation hit a decade-high of 2.8 percent in September.

The CNB Governor Jiri Rusnok is set to hold a press conference at 2.15 pm local time.

"So far, the Council has moved cautiously in this tightening cycle, only hiking interest rates at meetings that coincide with the quarterly publication of the central banks' new economic forecasts (in August and today)," Capital Economics economist Liam Carson said.

"The next such meeting is in February. But a hawkish statement later today could be a signal that an earlier rate hike, at December's rate-setting meeting, is now on the cards."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Cash Remains Preferred Payment Option In Eurozone: ECB Study (04 hr(s), 01 min(s), 03 sec(s) ago)
(RTTNews) - Euro zone consumers still prefer cash to other options for paying for their purchases, ...Full Story»

ECB's Coeure Warns Against Fake Data (04 hr(s), 19 min(s), 03 sec(s) ago)
(RTTNews) - Fake statistics are equally threatening to the euro area economy as fake news is to po ...Full Story»

Eurozone Economy Set To Extend Surprisingly Positive Run In 2018 (04 hr(s), 30 min(s), 03 sec(s) ago)
(RTTNews) - As the outlook for consumption is improving, the Eurozone economy is on its way to ext ...Full Story»

Swiss Industrial Production Expands In Q3 (06 hr(s), 10 min(s), 03 sec(s) ago)
(RTTNews) - Switzerland's industrial production and turnover increased notably in the third qu ...Full Story»

UK Mortgage Approvals At 13-Month Low (06 hr(s), 19 min(s), 03 sec(s) ago)
(RTTNews) - UK mortgage approvals declined to a 13-month low in October, data from UK Finance show ...Full Story»

German Business Confidence At Record High (06 hr(s), 18 min(s), 03 sec(s) ago)
(RTTNews) - Germany's business confidence strengthened to a new record in November on optimist ...Full Story»

Turkey Capacity Utilization Rises; Business Confidence Weakens (06 hr(s), 43 min(s), 03 sec(s) ago)
(RTTNews) - Turkey's capacity utilization rate increased for the fourth straight month in Nove ...Full Story»

Poland Jobless Rate Falls More Than Expected In October (07 hr(s), 02 min(s), 03 sec(s) ago)
(RTTNews) - Poland's unemployment rate decreased more-than-expected in October, figures from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Cash Remains Preferred Payment Option In Eurozone: ECB Study

11/24/2017 - 09:31 AM (RTTNews)
(RTTNews) - Euro zone consumers still prefer cash to other options for paying for their purchases, ...Full Story>>

ECB's Coeure Warns Against Fake Data

11/24/2017 - 09:13 AM (RTTNews)
(RTTNews) - Fake statistics are equally threatening to the euro area economy as fake news is to po ...Full Story>>

Eurozone Economy Set To Extend Surprisingly Positive Run In 2018

11/24/2017 - 09:02 AM (RTTNews)
(RTTNews) - As the outlook for consumption is improving, the Eurozone economy is on its way to ext ...Full Story>>

Swiss Industrial Production Expands In Q3

11/24/2017 - 07:22 AM (RTTNews)
(RTTNews) - Switzerland's industrial production and turnover increased notably in the third qu ...Full Story>>

German Business Confidence At Record High

11/24/2017 - 07:14 AM (RTTNews)
(RTTNews) - Germany's business confidence strengthened to a new record in November on optimist ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.