CNB continues tightening cycle with 25bp hike

The Czech National Bank
The Czech National Bank

The Czech National Bank today (August 5) made its second rate hike of 2021, raising the key interest rate by another 25 basis points.

Inflation was 2.8% in June and the CNB expects it to climb further in the short term before moving back towards the 2% target by the end of next year.

Policy-makers voted to raise the key two-week repo rate to 0.75%. They chose to raise the Lombard rate 50bp to 1.75% and kept the discount rate unchanged at 0.05%. The Lombard lending facility is currently not in

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