Czech central bank lifts key interest rate to tame inflation

PRAGUE — The Czech Republic's central bank has raised its key interest rate for the third time since June - by a quarter point to 2.00%, the highest level in more than 10 years.

Thursday's move, expected by some in financial markets, is the first since November.

Some expected it because the inflation rate reached 3% in March and is higher than expected while the national currency, the Czech crown, is weaker than expected.

The central bank has been steadily lifting its key rate since August 2017, when it was at a los of 0.05%.

But the bank is not expected to raise the rate any time soon because the local economy is largely dependent on the economies in the Western Europe that are slowing down.

People also read these

Animal welfare group and Albania quarrel over 3...

Apr 18, 2019

An international animal welfare charity is locked in a spat with the Albanian government over three...

Albania protesters hurl firebombs after calls for...

May 13, 2019

Anti-government protesters in Albania have hurled firebombs and flares at riot officers standing in...

New, weakened president inaugurated in Armenia

Apr 9, 2018

Armenia has inaugurated a new president, as the country changes to a system where the president has...

Thousands protest in Armenia's capital as talks...

Apr 25, 2018

Tens of thousands of opposition supporters surged into the central square of the Armenian capital,...

The Latest: Pashinian claims needed 1/3 support...

May 2, 2018

The opposition lawmaker who has spearheaded mass protests in Armenia says all three opposition...

Sign up now!

About Us

24-7 Reporters publishes up-to-the-minute news 24 hours a day, 7 days a week. Our certified reporters are among the most experienced, well-trained and talented across the globe, covering issues resonating progressives in every corner of the world.

Contact us: sales[at]24-7reporters.com