Czech central bank raises rates despite government pressure
Board votes to increase repo rate 75bp as inflation rises above 4% for first time since 2008
The Czech National Bank’s board increased its policy rate today (September 30), despite public pressure not to do so from the country’s government.
The seven-member board voted by five to two to increase the key two-week repo rate by 75 basis points to 1.5%.
The board, chaired by governor Jiří Rusnok, also increased the Lombard rate to 2.50% and the discount rate to 0.50%, all with effect from October 1. The two dissenting board members voted to leave rates unchanged.
The Czech prime
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