The Czech central bank again cuts a key interest rate as inflation stays low and economy recovers
The cut, which had been predicted by analysts, brought the interest rate down by a half-percentage point, to 4.75%.
The bank started to trim borrowing costs by a quarter-point on
Inflation declined to 10.7% in 2023 from 15.1% in 2022, according to the Czech Statistics Office, and dropped to the bank's target of 2.0% year-on-year in February, remaining unchanged in March.
It increased to 2.9% in April before dropping to 2.6% in May.
The Czech economy was up by 0.2% year-on-year in the first quarter of 2024, and increased by 0.3% compared with the last three months of the previous year, the figures released by Statistics Office on
That came after the Czech economy contracted by 0.2% in the last three months of 2023 compared with a year earlier.
Central banks around the world are leaning toward lowering borrowing costs as they judge whether toxic inflation has been sufficiently tamed.
The
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