CNB - rates cut due to low inflation outlook

The Czech National Bank board on Feb 23, 2001 cut interest rates because the low inflation outlook and because the move doesn't jeopardize price stability, central bank officials said.

The officials gave several reasons why the board decided to loosen monetary policy on Feb 22 by cutting the two-week repo rate to 5%, from the previous 5.25%, the discount rate to 4%, from the previous 5%, and the Lombard rate to 6%, from the previous 7.25%.

Central bank Governor Zdenek Tuma also said the board d

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