Europe

Central bank board is likely to raise interest rates by 1.25 percentage points on Wednesday

The Czech National Bank’s board is likely to raise interest rates by up to 1.25 percentage points on Wednesday, the Czech news agency reported, citing key economic experts. This will bring the base interest rate to 7%, the highest since 1999. The reason is that inflation is expected to surge to 16% in May, accelerating from 14.2% in April and peaking at 18% in July.

The fact that the next governor, Aresh Michelle, who will take office in July, is against the current rate hike, according to economists, is also likely to influence the decision.

https://english.radio.cz/central-bank-board-likely-raise-interest-rates-125-percentage-points-wednesday-8753650 Central bank board is likely to raise interest rates by 1.25 percentage points on Wednesday

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