In Brief: Czech National Bank Increases Interest Rate To 1.5%

The board of the Czech National Bank (CNB) has raised the interest rate for the third time this year. Today, it has announced a raise by 0.75 percentage points to 1.5%. Title photo: ZM / Brno Daily.

Czech Rep., Sep 30, (BD) – “At its meeting today, the CNB Bank Board increased the two-week repo rate (2W repo rate) by 75 basis points to 1.50%. At the same time, it increased the Lombard rate to 2.50% and the discount rate to 0.50%,” the board announced this afternoon.

The main reason for such a steep rise in interest rates is the growing inflation level, which has exceeded the CNB’s expectations. Over the three-year horizon, inflation expectations remain anchored just above the CNB’s 2% target.

⚖ At its meeting today, the CNB Bank Board increased the two-week repo rate (2W repo rate) by 75 basis points to 1.50%. At the same time, it increased the Lombard rate to 2.50% and the discount rate to 0.50%.#interestrates pic.twitter.com/DNsXCW4W79

— Česká národní banka (@CNB_cz) September 30, 2021

https://www.brnodaily.com/2021/09/30/news/in-brief-czech-national-bank-increases-interest-rate-to-1-5/https://www.brnodaily.com/wp-content/uploads/2021/09/Ceska-Narodni-Banka-June-27-Zenon-Moreau-Title-photo-ZM-Brno-Daily-1024x682.jpghttps://www.brnodaily.com/wp-content/uploads/2021/09/Ceska-Narodni-Banka-June-27-Zenon-Moreau-Title-photo-ZM-Brno-Daily-150x100.jpg2021-09-30T16:19:45+02:00BD StaffCzech Republic / WorldCzech Republic,EconomyThe board of the Czech National Bank (CNB) has raised the interest rate for the third time this year. Today, it has announced a raise by 0.75 percentage points to 1.5%. Title photo: ZM / Brno Daily. Czech Rep., Sep 30, (BD) - “At its meeting today, the CNB Bank...BD StaffBD Staff team@brnodaily.czAdministratorBrno Daily - English News and Events in Brno.Brno Daily