Jun 27
Czech Republic: No surprises here, rates on hold
As expected the Czech central bank (CNB) today decided to keep its key policy rate unchanged at 3.75% despite the significant rise in inflation in recent months. There is no doubt that the acceleration in the strengthening of the Czech koruna since mid-2007 frustrates the majority of the CNB board members, which is most likely the main reason why the CNB today decided to keep interest rates on hold despite the fact that inflation now running at 7.1% y/y (March) is well above the CNB's
