Czech National Bank lowers two-week repo rate to 4.25%

At its meeting on Wednesday the Bank Board of the Czech National Bank lowered the two-week repo rate by 0.25 percentage point to 4.25 percent. It lowered the discount rate by the same amount to 3.25% and the Lombard rate to 5.25%. The new interest rate levels come into effect on September 26. The board also confirmed its intention to maintain a tight monetary policy so that inflation remains close to the central bank's two percent target in the long term.