Czech National Bank cuts main interest rate to record low level

07-05-2009

The Czech National Bank cut its main interest rate by a quarter of a percentage point on Thursday. The move reduces the rate to 1.5 percent, the lowest level since the creation of the Czech Republic. Many analysts had expected the cut thanks to the low outlook for inflation and the need to boost the lagging economy. The Czech cut still means its main interest rate is higher than in the eurozone.