Czech Monetary Policy Stance Stays on Hold

March 29, 2012

In its second policy meeting of 2012, the Czech National Bank Board voted to leave the key two-week repo rate at 0.75%, its level since a 25-basis point cut on May 6, 2010 that culminated a 7-move, 300-basis point easing.  Czech GDP contracted 0.5% annualized in the final quarter of 2011 and was merely 0.3% greater than than in the year-earlier quarter.  Inflation rose to 3.7% in February due to higher value added taxation, but officials expect such to settle below their 3% target in early 2013. 

Copyright 2012, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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