ČNB raises main interest rate to 1.5 pct

26-09-2018

The Czech National Bank (ČNB) board has increased the two-week repo rate by 25 basis points to 1.5 percent. At the same time, it increased the Lombard rate to 2.5 percent and the discount rate to 0.5 percent.

The board has raised interest rates by 25 basis points at the three rate-setting sessions since June. The new levels come into effect on 27 September 2018.

Earlier, central bank governor Jiří Rusnok, citing economic growth, inflation and wage development, said he would not rule out more hikes before the end of the year.