Czech central bank cuts its key interest rate to 4.25%

PRAGUE (AP) — The Czech Republic’s central bank has cut its key interest rate for the seventh time in a row as inflation remains low and amid the economy’s slow recovery. The cut on Wednesday had been predicted by analysts. It brought the interest rate down by a quarter of a percentage point to 4.25%. The bank started to trim borrowing costs by a quarter-point on Dec. 21. Further cuts of half a percentage point each time followed on Feb. 8, March 20, May 2 and June 27. Another cut by a quarter of a percentage point came on Aug 1.