Czech central bank raises key rate again to tackle inflation

Published June 22, 2022 6:00 AM

By KAREL JANICEK
Associated Press

PRAGUE (AP) — The Czech Republic’s central bank has raised its key interest rate significantly as it tries to combat soaring inflation. The hike of a percentage point and a quarter brought the interest rate to 7.00%, the highest level since early 1999. It was the ninth straight increase since June 2021. Wednesday’s increase was not unexpected. The Czech National Bank considers high consumer prices to be a major threat and had indicated it would raise the rate again. The bank’s governor is set to be replaced on July 1 with a member of the board who opposed previous interest rate hikes.

Article Topic Follows: AP National Business

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