{"id":27113,"date":"2012-02-03T17:28:00","date_gmt":"2012-02-03T22:28:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/02\/03\/czech-national-bank-holds-interest-rate-at-0-75-2\/"},"modified":"2012-02-03T17:28:00","modified_gmt":"2012-02-03T22:28:00","slug":"czech-national-bank-holds-interest-rate-at-0-75-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/02\/03\/czech-national-bank-holds-interest-rate-at-0-75-2\/","title":{"rendered":"Czech National Bank Holds Interest Rate at 0.75%"},"content":{"rendered":"<p><span>The&nbsp;<a href=\"http:\/\/www.cnb.cz\/en\/index.html\" target=\"_blank\">Ceska Narodni Banka<\/a>&nbsp;held the two-week repurchase rate at 0.75% as expected, and kept the discount rate unchanged at 0.25% and Lombard rate at 1.75%. &nbsp;The Bank said: &#8220;Monetary-policy relevant inflation will be close to the target over the entire forecast horizon. Headline inflation will rise temporarily to just above 3% in 2012 owing to a VAT increase, but will fall back below the target at the start of 2013. Consistent with the forecast is stability of market interest rates in the near future and a modest decline thereafter. The risks to the forecast are balanced.&#8221;<\/span><br \/><span><\/span><br \/><a name='more'><\/a><span>The Czech central bank also kept the&nbsp;repurchase&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/11\/czech-national-bank-maintains-rate-at.html\">rate&nbsp;unchanged<\/a><span>&nbsp;at its November meeting last year; its last change was a 25 basis point cut in May 2010. &nbsp;The Czech Republic reported annual inflation of 1.8% in September, compared to 1.7% in August and July, 1.8% in June, 2% in May, 1.6% in April, and 1.7% in March this year, and within the Bank&#8217;s official inflation target of 2%. &nbsp;<\/span><\/p>\n<div><span><br \/>The Czech economy contracted -0.1% in Q3, and grew 0.1% in Q2 (0.9% in Q1) last year, placing annual GDP growth at 1.2% in Q3, 2.2% in Q2 (2.8% in Q1). &nbsp;The Czech Republic&#8217;s currency, the Koruna (CZK) has weakened about 8% against the US dollar over the past year, and the USDCZK exchange rate last traded around 18.96<\/span><\/p>\n<div><a href=\"http:\/\/www.centralbanknews.info\/\" target=\"_blank\">www.CentralBankNews.info<\/a><\/div>\n<\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-6863262984999315084?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Ceska Narodni Banka&nbsp;held the two-week repurchase rate at 0.75% as expected, and kept the discount rate unchanged at 0.25% and Lombard rate at 1.75%. &nbsp;The Bank said: &#8220;Monetary-policy relevant inflation will be close to the target over the entire forecast horizon. Headline inflation will rise temporarily to just above 3% in 2012 owing to a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/02\/03\/czech-national-bank-holds-interest-rate-at-0-75-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Czech National Bank Holds Interest Rate at 0.75%&#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-27113","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=27113"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27113\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=27113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=27113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=27113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}