No change in Czech interest rates, says central bank

The Czech National Bank has defied the expectations of analysts by leaving the benchmark interest rate at 3.5 percent. Economists believed the bank’s board was preparing to announce a half-point cut in interest rates on Thursday. A day earlier, central banks in a number of countries announced a coordinated interest rates cut in an effort to support economies threatened by the financial crisis. The Czech National Bank is still expected to cut rates at a policy meeting planned for early next month.