The Czech Republic's central bank has announced its sixth consecutive cut to the key interest rate in response to falling inflation and a slower-than-expected economic recovery. The latest cut, as predicted by analysts, reduced the interest rate by a quarter of a percentage point to 4.50%.
This series of rate cuts began on December 21, with subsequent reductions on February 8, March 20, May 2, and June 27. The Czech economy saw a modest year-on-year increase of 0.4% in the second quarter of 2024, with a 0.3% rise compared to the previous three months, according to preliminary data released by the Statistics Office.
