Czech central bank cuts key interest rate to 4% as inflation stays low
The Czech central bank has cut its key interest rate for the eighth time in a row as inflation remains low and the economy is making a slow recovery
PRAGUE (AP) — The Czech Republic’s central bank on Thursday cut its key interest rate for the eighth time in a row as inflation remains low and as the economy is making a slow recovery.
The cut, which had been predicted by analysts, brought the interest rate down by a quarter of a percentage point to 4%.
The bank started to trim borrowing costs by a quarter-point on Dec. 21, the first cut since June 22, 2022. Further cuts of half a percentage point followed on Feb. 8, March 20, May 2, and June 27. Cuts of a quarter of a percentage point came on Aug. 1 and Sept. 25.
The size of the Czech economy was 1.3% up year-on-year in the third quarter of 2024, an increase of 0.3% compared with the previous three months, according to the national statistics office.
