The Czech National Bank on Thursday raised the basic interest rate by a quarter of a percentage point to 1.75 percent. It is already the fifth hike in interest rates this year, as the bank response to rapid pace of wage growth and the resulting impact on inflation.
According to Central Bank governor Jiří Rusnok, there will be no more hikes before the end of the year. The Czech National Bank has also downgraded its growth forecast for this year to 3.1 percent and for next year to 3.3 percent.
Remnants of medieval wall dating back to 1041 unearthed in Břeclav
Measures taken as over 60 percent of Czech Republic hit by extreme drought
Beer, schnitzel and mushroom picking – unique set of emojis captures Czech soul
Barbora Strýcová, 33, in “best form” ahead of Wimbledon semi-final against Serena Williams
Prague flats most expensive in Central Europe, in terms of average earnings