Change in rates: 2W repo rate 5.5%, discount rate 5%, Lombard rate 7.5%

At its meeting today, the Bank Board of the Czech National Bank decided to lower its key interest rates as follows:

• the two-week repo rate by 0.25 percentage points (from 5.75% to 5.50%),
• the discount rate by 0.5 percentage points (from 5.50% to 5.00%), and
• the Lombard rate also by 0.5 percentage points (from 8.00% to 7.50%).

The new interest rates come into effect on 27 October 1999.

CNB - M. Švehla