The Czech Republic’s central bank lowered its benchmark policy rate for the second time in two weeks and adopted additional measures to stabilize the country’s economy, hit by the outbreak of the coronavirus, or Covid-19.
The Czech National Bank (CNB) cut its 2-week repo rate by a further 75 basis points to 1.0 percent and has now cut it by 125 points this month as it makes a sharp U-turn after raising the rate by 25 points rate on Feb. 6 to curb rising inflation.
In a statement, CNB said its Bank Board would announce the measures at a press conference later today.
The Czech National Bank issued the following statement:
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