Czech central bank raises rates by majority vote
Divided board raises rates as inflation nears top of target band
A majority of the Czech National Bank’s board voted to tighten monetary policy on June 23 in a bid to tame higher inflation.
The seven-member body decided to increase the two-week repo rate by 25 basis points to 0.50%. Three board members dissented from the majority and two voted to maintain rates unchanged at 0.25%. One member voted to increase rates by 50bp.
It also increased the Lombard rate by 25bp to 1.25%, and maintained the discount rate unchanged at 0.05%. The new rates came into
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