CNB minutes reveals falling koruna allowed rate hold

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The recent decline in the koruna against the euro has provided additional monetary accommodation in the Czech Republic and enabled its central bank to keep rates on hold, according to the minutes published by the Czech National Bank (CNB) on January 6.

At its last meeting on December 21, the CNB's board voted unanimously to leave its benchmark two-week repo rate unchanged at 0.75%.

Minutes of the meeting show members felt that although risks were strengthening in the direction of lower GDP, the

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