CNB continues tightening cycle with 25bp hike
Board opts for additional hike as forecasts point to short-term inflation surge
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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