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Czech National Bank Starts Currency Interventions
Politics ♦
Published: November 8, 2013; 19:25 ♦ (Vindobona)

In order to stop the recession in the Czech Republic, CNB eases monetary policy further.

Today, the CNB announced to launch direct currency interventions. The CNB Bank Board decided at its meeting today to keep interest rates unchanged. The two-week repo rate was maintained at 0.05%, the discount rate at 0.05% and the Lombard rate at 0.25%. As the reference rate is already at a record low, there is no downside potential anymore. As a result, weakening the Czech koruna is…
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