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Czech Central Bank Cuts Interest Rate Amid Slow Recovery

Inflation Czech Republic Interest Rates
People stand outside the Czech central bank in Prague, Czech Republic, Thursday, Nov. 2, 2023. (AP Photo/Petr David Josek, File)

The Czech Republic’s central bank has announced its decision to reduce its key interest rate for the eighth consecutive time, citing low inflation and a slow economic recovery. The latest cut, which was widely anticipated by analysts, brings the interest rate down by a quarter of a percentage point to 4%.

This series of rate cuts began on Dec. 21, with subsequent reductions of half a percentage point on Feb. 8, March 20, May 2, and June 27. Additional cuts of a quarter of a percentage point were implemented on Aug. 1 and Sept. 25.

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