Jul 26
Czech Republic: CNB still on hold
Despite still strong inflationary pressures the Czech central bank (CNB) today decided to keep its key policy rate unchanged at 3.75%, where it has been since its previous hike in February 2008. There is no doubt that the Czech korunaÂ’s (CZK) record strength and the expected cooling of the national economy are the main reasons why the CNB today decided to keep interest rates on hold despite the fact that inflation still remains well above the CNB target. Certainly, the majority opinion among
