The Czech central bank cuts its key interest rate as inflation falls and the economy slowly recovers
Thursday, 1 August 2024 The Czech Republic’s central bank has cut its key interest rate for the sixth time in a row as inflation falls and the economy recovers more slowly than expected. The cut, which had been predicted by analysts, brought the interest rate down by a quarter of a percentage point, to 4.50%. The bank started to trim borrowing costs by a quarter-point on Dec. 21. The Czech economy was up by 0.4% up year-on-year in the second quarter of 2024, and increased by 0.3% compared with the previous three months. Inflation dropped to the bank’s target of 2.0% year-on-year in June from 2.6% in May.
The Bank of England has cut interest rates to 5% at its August Monetary Policy Committee meeting, the first reduction of the UK’s base rate in four years. Responding to the cut, Chancellor of the Exchequer Rachel Reeves said: “Homeowners will welcome this cut in interest rates, but I know that...
Thursday, 1 August 2024
