NORDIC CHAMBER Press Archive
ČNB keeps interest rates unchanged
(CIANEWS) - The Czech National Bank's (CNB) Bank Board left interest rates at their current level. The two-week repo rate remains at 7%, the discount rate at 6%, and the Lombard rate at 8%. Five members of the board, Aleš Michl, Eva Zamrazilová, Oldřich Dědek, Jan Frait and Karina Kubelková, voted in favour of the maintenance. Marek Mora and Tomáš Holub voted in favour of the 1 bp rate increase. The decision was based on the macroeconomic forecast, which shifts the monetary policy horizon to 18 to 24 months into the future due to cost pressures in an environment of high uncertainty. Inflation is expected to be around 20% in autumn 2022, falling to around 2% within a year and a half.