Further cuts possible in Czech interest rates

Miroslav Singer, the vice-governor of the Czech National Bank, has dropped strong hints that further interest-rates cut will be on the cards if the economic situation demands it.

The country's borrowing costs are at a record low after a quarter-point cut on 7 May, which brought the two-week repo rate to 1.5%.

Singer explained during a conference organised by Moody's, a credit agency, on 28 May that further cuts could be made "if the ECB [European Central Bank] cuts rates further, if disinflati