Czech National Bank cuts rates to record low
The Czech National Bank (CNB) governing board today (September 27) voted to lower its policy rate by 25 basis points to a record low of 0.25%. CNB governor Miroslav Singer said after the move that the central bank may also make foreign exchange interventions in future.
Presenting the board's decision, Singer said growth in the Czech Republic had contracted both year-on-year and quarter-on-quarter in the second quarter of 2012. Unemployment rose moderately in Q2 and "negligibly" in Q3, reaching 8
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