Czech central bank holds interest rates at 2.75 pct, in line with expectations |
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Thu, 28 Jun 2007 11:05
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PRAGUE (Thomson Financial) - The Czech central bank left its main interest rate unchanged at 2.75 pct today, in line with the expectations of most analysts.The Czech Republic's economy grew 6.1 pct in the first quarter of this year and, with average wages soaring 7.8 pct year-on-year and May inflation at 2.4 pct, most analysts expect the bank to hike again soon, most likely after a quarterly update to the central bank's inflation forecast in July.The bank raised rates by 25 bps points on May 31, bringing borrowing costs in the former communist state to their highest level in four years.jana.mlcochova@thomson.com +420 222 191 108jm1/jrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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