CNB increases interest rates

UniCredit Bank Czech Republic and Slovakia,a.s.
Fri, 01/09/2017

The Czech National Bank abandons its technical zero policy after five years                                                                                                                                 

The CNB Bank Board decided at its meeting on 3 August to increase the two-week repo rate by 20 basis points to 0.25%. At the same time, it decided to increase the Lombard rate by 25 basis points to 0.50% and to keep the discount rate unchanged at 0.05%. The new interest rate levels came into effect on 4 August.

This was the first change in interest rates since November 2012, when the repo rate was cut to technical zero. Additionally, the decision taken on 3 August was the first increase in domestic interest rates since February 2008.


Tomáš Vácha

Senior Relationship Manager, GSS Czech Republic