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Financial News: Czech Central Bank Retains Key Rate

Czech Central Bank Retains Key Rate

09/27/2017 - 07:16:00 (RTTNews)

(RTTNews) - The Czech central bank maintained its key interest rate after raising it for the first time in nine years in August.

The bank board decided to keep the two-week repo rate at 0.25 percent, the Czech National Bank said in a statement on Wednesday. The decision was in line with expectations.

The bank also maintained the discount rate at 0.05 percent and the Lombard rate at 0.50 percent.

In August, the bank had raised the two-week repo rate by 20 basis points and the Lombard rate by 25 basis points, while retaining the discount rate.

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

A press conference attended by Governor Jiri Rusnok will be held at 2.15 pm local time.

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