Czech C. Bank Keeps Rates on Hold

Banking

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The Czech National Bank kept its key interest rates unchanged for the second straight meeting on Thursday, according to Tradingeconomics.com.

The Bank Board maintained its two-week repo rate at 7%, as expected. The bank has tightened its monetary policy over nine consecutive sessions until June 2022.

The discount rate was left unchanged at 6% and the Lombard rate at 8%.

In August, consumer price inflation slowed to 17.2% but the rate remained elevated and well above the tolerance band of 1%-3%.

The Bank Board assured that the central bank's actions will be sufficient to restore price stability but remains ready to react appropriately to any materialization of the risks of the forecast.

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