Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 01, 2012 14:33:55

CNB cuts interest rates to a record low of 0.05%


CNB Bank Board at its meeting today decided to cut the repo rate (2W repo rate) by 20 basis points to a record low of 0.05%. The Lombard rate was reduced by 50 basis points to 0.25% and the discount rate was reduced by 5 basis points to 0.05   %. The new interest rates are valid from 2 11th 2012th

Last CNB eased monetary policy 27th 9th 2012, when the repo rate was reduced by 25 basis points to 0.25%.

The regular press conference board will be held at 15:30 pm at the CNB in the Small congress hall (entrance Senovážné us. No. 30, former Commodity Exchange). The press conference was attended by CNB Governor Miroslav Singer.

Please note that the press conference is only available to the media.

History of the monetary policy instruments and records of the Board can be found at the following addresses http://www.cnb.cz/cs/menova_politika/mp_nastroje/ # mp_nastroje

http://www.cnb.cz/cs/menova_politika/br_zapisy_z_jednani/

Discount rate: The monetary policy interest rate, which generally represents a lower limit for the movement of short-term interest rates on the money market. CNB uses it on the remuneration of excess liquidity by banks with the CNB stored overnight in the deposit facility.

Lombard rate: monetary policy interest rate, which represents the upper limit for the movement of short-term interest rates on the money market. CNB uses it on the remuneration of liquidity provided by the banks overnight under the lending facility.

Repo rate: The basic CNB monetary policy interest rate, which is the interest rate of commercial banks' excess liquidity withdrawn by the CNB two-week repo tenders.

Thomas Zimmermann

Communications Department CNB

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