Czech board raises rates in split vote

cnb

The Czech National Bank’s board ordered a 75 basis point hike on May 5, by a 5–2 vote with dissenters opposing any increase.

The decision brought the CNB’s two-week repo rate to 5.75% and came on the same day that the Polish central bank also raised rates. The CNB also increased its inflation forecast, as the Czech Republic experiences its highest inflation since 1998.

As in Poland, the CNB’s May 5 decision is its eighth rate increase in a row. Since its first hike in June 2021, the Czech MPC

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