Czech National Bank cuts rates by 50 basis points
Next step likely to be a 25bp cut or a halt to easing, says central bank
The Czech National Bank has cut its two-week repo rate by 50 basis points, it announced on June 27.
This is the fifth and likely final time the central bank will ease its monetary policy, as inflation has been within the CNB’s target – 2% with a 1% tolerance band – since January. Inflation was exactly 2% in February and March, with an uptick to 2.9% in April and a fall to 2.6% in May, the CNB said.
No further major rate cuts should be expected because the board “sees inflationary risks in the
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