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Czech Republic: Monetary Policy to Loosen Further
Politics ♦
Published: September 3, 2013; 06:45 ♦ (Vindobona)

According to the member of CNB (Czech National Bank) Lubomir Lizal, the country needs further monetary policy steps. CNB is considering starting currency interventions.

As the interest rate was cut to a technical zero, the Czech National Bank considers intervening against the crown. Since the second half of 2012, CNB has lowered the base rate gradually down to 0.05%. In the medium term, the interest rate will be kept at that record low. In July, the board of CNB resolved to keep the base rate at 0.05%. The decision was no surprise as there was no…
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