{"id":33254,"date":"2012-11-01T09:15:00","date_gmt":"2012-11-01T13:15:00","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/11\/czech-republic-cuts-rate-20-bps-to-record-low-of-0-05\/"},"modified":"2012-11-01T09:15:00","modified_gmt":"2012-11-01T13:15:00","slug":"czech-republic-cuts-rate-20-bps-to-record-low-of-0-05","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/11\/01\/czech-republic-cuts-rate-20-bps-to-record-low-of-0-05\/","title":{"rendered":"Czech Republic cuts rate 20 bps to record low of 0.05%"},"content":{"rendered":"<p>By Central Bank News<br \/>\n&nbsp; &nbsp; The central bank of the Czech Republic cut its benchmark two-week repo rate by 20 basis points to a &nbsp;record low of 0.05 percent.<br \/>&nbsp; &nbsp; The board of the Czech National Bank (CNB) also cut the Lombard rate, the ceiling for short-term money market rates that is used to provide overnight liquidity to banks, by 50 basis points to 0.25 percent. The discount rate, the floor for short-term money market rates that is used for overnight deposits at the central bank, was cut by 5 basis points to 0.05 percent.<br \/>&nbsp; &nbsp; The CNB will issue a statement later to explain its rate decision. Many economists had expected the CNB to cut its rate further.<br \/>&nbsp; &nbsp; The CNB had already cut the repo rate twice this year for a total reduction of 50 basis points. The latest cut brings this year&#8217;s rate reduction in the repo rate to 70 basis points.<br \/>&nbsp; &nbsp; The Czech Republic&#8217;s Gross Domestic Product contracted by 0.2 percent in the second quarter from the first quarter, after 0.8 percent quarterly drop, for an annual decline of 1.0 percent.<br \/>&nbsp; &nbsp; The inflation rate ticked up to 3.4 percent in September from 3.3 percent in August. The CNB targets inflation of 2.0 percent.<br \/>&nbsp; <br \/><a href=\"http:\/\/www.centralbanknews.info\/\" target=\"_blank\">&nbsp; &nbsp; www.CentralBankNews.info<\/a><\/p>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-8078202301861846134?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Central Bank News &nbsp; &nbsp; The central bank of the Czech Republic cut its benchmark two-week repo rate by 20 basis points to a &nbsp;record low of 0.05 percent.&nbsp; &nbsp; The board of the Czech National Bank (CNB) also cut the Lombard rate, the ceiling for short-term money market rates that is used to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2012\/11\/01\/czech-republic-cuts-rate-20-bps-to-record-low-of-0-05\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Czech Republic cuts rate 20 bps to record low of 0.05%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-33254","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/33254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=33254"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/33254\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=33254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=33254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=33254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}