Czechs move on currency fears

The Czech National Bank has cut its benchmark rate for the first time in three years in a bid to halt the koruna's climb.

The central bank's key two-week repo rate was lowered by a quarter point to 3.5%, the first cut since April 2005. Rates were already the lowest in the EU. All six members of the rate-setting board attending the meeting backed the cut.

The koruna fell sharply from Kc23.96 against the euro to Kc24.90 on the news. From the start of the year until the day before the decision,

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: