Czech National Bank Cuts Rate By Another 50 Basis Points

February 5, 2009

A reduction of the two-week repurchase rate to 1.75% from 2.25% was as analysts had forecast and followed cuts of 50 basis points in December and November and of 25 bps last August.  In a released statement, officials markedly trimmed projections for both growth and inflation. Real GDP will fall this year and rise 1.0% in 2010, while inflation is to follow a path below target throughout the period and only climbs back to 2% by mid-2010. The last central bank rate increase occurred in February 2008, when such rose 25 basis points to 3.75%.

Copyright 2009 Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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