Cutting 2W repo rate

It its extraordinary meeting today, the Czech National Bank Board assessed the possible impact of yesterday's interest rate cut by the European Central Bank on the Czech economy. The prevailing view was that the above-mentioned lowering could lead to a tightening of domestic monetary conditions. Therefore the CNB Board decided to cut the 2W repo rate by 0.3 percentage points from 7.5% to 7.2%, effective immediately.

CNB - M. Švehla