Czech Republic holds rates again and upgrades growth outlook
CNB says economy running hot on all fronts warrants restrictiveness in monetary stance
The Czech National Bank (CNB) has maintained its policy rate for the second time in a row, as the economy continues to run hot and inflation stays above target.
In a unanimous decision yesterday (August 7), the CNB’s board held the benchmark two-week repurchase rate at 3.5%. This followed a rates hold in June.
“Tight monetary policy is still needed,” the board said in a statement. “Households’ demand continues to grow. Services inflation remains elevated. Rising property prices are also a risk to
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