Central bank adopts stabilizing measures amid coronavirus pandemic


The Bank Board of the Czech National Bank has adopted measures to mitigate the impacts of the coronavirus epidemic on Czech firms, businesses and households.

At its monetary policy meeting on Monday, the Bank Board lowered the two-week repo rate by 50 basis points to 1.75%.

At the same time, it lowered the Lombard rate to 2.75% and the discount rate to 0.75%. The vote was unanimous.

The change in rates takes effect on Tuesday, March 17, 2020.

In addition, the Bank Board declared that it was ready to cut interest rates further should the economic situation so require.