CNB cuts interest rates and adopts additional measures

At its meeting today, the Bank Board of the Czech National Bank lowered the two-week repo rate (2W repo rate) by 75 basis points to 1.00%. At the same time, it lowered the Lombard rate to 2.00% and the discount rate to 0.05%. The new interest rate levels come into effect on 27 March 2020.

The Bank Board also adopted additional measures to stabilise the domestic economy, which will be announced at a press conference attended by Deputy Governor Tomáš Nidetzký and Bank Board member Tomáš Holub. The press conference will be held at 3.15 p.m. as a videoconference for accredited journalists and will be streamed live on the CNB website.

Markéta Fišerová 
Director of the Communications Division and CNB Spokesperson