Czech central bank raises key interest rate again more sharply than expected
Several bundles of US dollars. © Adam Gault / DigitalVision / Getty Images
PRAGUE (dpa-AFX) – The Czech national bank has again raised its key interest rate more sharply than expected due to high inflation. The interest rate increases by 1.0 percentage points to 3.75 percent, as the central bank announced in Prague on Wednesday. Economists had only expected an increase to 3.5 percent on average. It is the fifth rate hike in a row.
The Czech Republic is pursuing a policy of increasing interest rates that is particularly aggressive compared to other European countries. The inflation rate in the Czech Republic rose to 6.0 percent in November. This was the highest rate since October 2008.
The Czech koruna gained slightly against the euro on Wednesday. However, she quickly gave up her winnings ./jsl/bgf/jha/
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