Change in rates: 2W repo rate 4.50%, discount rate 3.50%, Lombard rate 5.50%

At its extraordinary meeting today the CNB Bank Board decided to lower the limit repo rate by 0.25 percentage points to 4.50%. At the same time it decided to cut the discount rate to 3.50% and the Lombard rate to 5.50%. The new interest rates come into effect from tomorrow 22 January 2002.

The CNB Board also made a decision regarding interventions on the foreign exchange market. The date of the Board's regular monetary meeting (31 January 2002) remains unchanged.

The monetary policy conclusions of today's extraordinary Bank Board meeting will be clarified by CNB Governor Zdeněk Tůma and Vice-Governor Luděk Niedermayer at a press conference to be held today at 3.30 p.m. in the CNB building.

Alice Frišaufová
CNB spokesperson