Czech National Bank raises interest rates, move premature says minister

The Czech National Bank has raised interest rates by a quarter of a percent, with the benchmark two-week repo rate growing to 2.0 percent to stand level with the euro zone rate. Year-on-year inflation in September reached 2.2 percent, a marked acceleration from 1.7 percent in August. However, Finance Minister Bohuslav Sobotka questioned the central bank's decision, which he said was premature.