Main Czech interest rate cut to 0.75 percent

The Czech National Bank has cut its main interest rate to a record low. The bank announced the cut of a quarter of a percentage point to 0.75 percent. Most analysts had expected that the bank would hold the rate unchanged. The latest cut takes Czech interest rates to a quarter of a percentage point below the main rate in the eurozone. The move is likely to weaken the Czech crown which has been hit in recent days by turbulence surrounding worries about the far reaching plans to cut Greek public debt.

Author: Chris Johnstone