CNB cuts rates by 25bp as it revises growth forecast
Bank points to sticky service and food inflation, reduced demand for exports
The Czech National Bank (CNB) cut rates by 25 basis points on February 6 and revised its forecasts for GDP growth and inflation. The bank’s key rate – the two-week repurchase rate – is now 3.75%.
In its statement, the CNB explained that the board’s unanimous decision had been prompted, in part, by a further decrease in demand for Czech goods and services from neighbouring European countries. This, it said, had only been partially offset by demand from the domestic market.
European industry – which
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