Czech central bank hikes rate and forecasts steeper inflation
CNB board says inflation should peak at mid-year but warns of de-anchoring risk
The Czech National Bank’s board raised its policy rates by 75 basis points on February 3, saying it now expected higher inflation.
A majority of the seven-member CNB board voted to raise the two-week repo rate, its chief monetary policy tool, to 4.5%. They also voted to raise the discount rate to 3.5% and the Lombard rate to 5.5%.
Five board members of the board, chaired by CNB governor Jiří Rusnok, voted in favour of the rises, while two voted to keep rates on hold. This was exactly the
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