Czech central bank raises rates despite government pressure

The Czech National Bank

The Czech National Bank’s board increased its policy rate today (September 30), despite public pressure not to do so from the country’s government.  

The seven-member board voted by five to two to increase the key two-week repo rate by 75 basis points to 1.5%.

The board, chaired by governor Jiří Rusnok, also increased the Lombard rate to 2.50% and the discount rate to 0.50%, all with effect from October 1. The two dissenting board members voted to leave rates unchanged.

The Czech prime

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