The CNB Bank Board decided at its meeting today to keep interest rates unchanged. The two-week repo rate was maintained at 1.25 %, the discount rate at 0.25 % and the Lombard rate at 2.25 %.

The history of settings of main instruments of monetary policy and Bank Board minutes available at:

http://www.cnb.cz/en/monetary_policy/instruments/index.html#mpi
http://www.cnb.cz/en/monetary_policy/bank_board_minutes/index.html

Repo rate: The CNB’s key monetary policy rate, paid on commercial banks’ excess liquidity as withdrawn by the CNB in two-week repo tenders.

Discount rate: A monetary policy rate which as a rule represents the floor for short-term money market interest rates. The CNB applies it to the excess liquidity which banks deposit with the CNB overnight under the deposit facility.

Lombard rate: A monetary policy interest rate which provides a ceiling for short-term interest rates on the money market. The CNB applies it to the liquidity which it provides to banks overnight under the lending facility.

Marek Petruš, CNB spokesman