The Czech National Bank (CNB) started an interest rate-easing cycle on Thursday with a 25 basis-point reduction that puts the main repo rate at 6.75%, the first cut in more than three years amid a backdrop of slowing inflation and a sagging economy.
Markets had priced in the rate cut, with 12 of 15 analysts in a Reuters poll also forecasting it. The crown eased and was down 0.4% on the day at 24.564 to the euro after the decision.
Read More : Czech Central Bank Initiates Rate-Easing Cycle with a 25 bps Cut