Czechs cut rates to record low

cnb

The Czech National Bank on Thursday cut its benchmark two-week repo rate to a fresh low of 1.25%.

The central bank also cut its discount rate to 0.25% and its Lombard rate to 2.25%.

Analysts had forecast the central bank to keep rates on hold on signs that the recessions hanging over the country's main export partners were easing. Germany is by far the country's most important export partner. Slovakia, Poland, France and the UK are also key markets. However, the koruna strengthened on the news -

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