Czechs surprise with rate cut
The Czech National Bank unexpectedly cut its benchmark rate by a quarter point on Wednesday as fears persisted over economic growth.
The cut leaves the key two-week repo rate at 1% - a fresh all-time low. The central bank also sliced 25 basis points off the Lombard rate, which falls to 2%. The discount rate was unchanged at 0.25%.
Analysts had largely expected rates to remain unchanged. The Prague Stock Exchange closed up 1.6%. The cut was a close call with three members of the seven-strong
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