The Czech National Bank slashed its benchmark two-week repo rate by 75bps to 0.25 percent on May 7th of 2020, to cushion the economic blow of the coronavirus and defying market expectations of a smaller 25bps reduction. It follows a cut by a similar margin in the previous meeting and brings borrowing costs to its lowest since September of 2017. At the same time, it lowered the Lombard rate to 1 percent while the discount rate remained unchanged at 0.05 percent.

Interest Rate in Czech Republic averaged 4.73 percent from 1995 until 2020, reaching an all time high of 39 percent in June of 1997 and a record low of 0.05 percent in November of 2012. This page provides the latest reported value for - Czech Republic Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Czech Republic Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.

Interest Rate in Czech Republic is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Czech Republic to stand at 0.25 in 12 months time. In the long-term, the Czech Republic Interest Rate is projected to trend around 1.00 percent in 2021 and 1.75 percent in 2022, according to our econometric models.

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Czech Republic Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.25 1.00 39.00 0.05 1995 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-02-06 01:00 PM 2.25% 2% 2% 2%
2020-03-16 03:30 PM 1.75% 2.25%
2020-03-26 01:00 PM 1% 1.75% 1.25% 1.25%
2020-05-07 01:15 PM 0.25% 1% 0.5% 0.5%
2020-06-24 12:30 PM 0.25% 0.25%
2020-08-06 12:30 PM 0.25%
2020-09-23 12:30 PM 0.25%
2020-11-05 01:30 PM 0.25%


News Stream
Czech Republic Cuts Key Rate to 0.25%
The Czech National Bank slashed its benchmark two-week repo rate by 75bps to 0.25 percent on May 7th of 2020, to cushion the economic blow of the coronavirus and defying market expectations of a smaller 25bps reduction. It follows a cut by a similar margin in the previous meeting and brings borrowing costs to its lowest since September of 2017. At the same time, it lowered the Lombard rate to 1 percent while the discount rate remained unchanged at 0.05 percent.
2020-05-07
Czech Republic Slashes Key Rate to 1%
The Czech National Bank slashed its benchmark two-week repo rate by 75bps to 1 percent on March 26th, bringing borrowing costs to its lowest since July 2018 and defying market expectations of a smaller 25bps cut. It follows a 50bps cut last week at a surprise meeting. At the same time, it lowered the Lombard rate to 2 percent and the discount rate to 0.05 percent.
2020-03-26
Czech Republic Cuts Policy Rates in Emergency Move
The Czech National Bank slashed its benchmark two-week repo rate by 50bps to 1.75 percent during an extraordinary monetary policy meeting on March 16th, with policymakers voicing concerns about the coronavirus outbreak. In addition, the Lombard rate was cut to 2.75 percent and the discount rate was lowered to 0.75 percent. The central bank also revised its earlier decision adopted in May 2019 to increase the countercyclical capital buffer rate for exposures located in the country to 2 percent with effect from 1 July 2020, meaning that banks will continue to maintain the currently applicable rate of this buffer at 1.75 percent. Policymakers pledged to cut interest rates further should the economic situation so require.
2020-03-16
Czechia Unexpectedly Hikes Interest Rate to 2.25%
The Czech National Bank raised its benchmark two-week repo rate by 25bps to 2.25 percent on February 6th 2020, surprising markets that expected the rate to be left on hold. The decision comes after annual inflation rate increased to 3.2 percent in December, the highest since October 2012 and well above the central bank's midpoint target of 2 percent. Also, the lombard rate was increased by 25bps to 3.25 percent and the discount rate by 25bps to 1.25 percent.
2020-02-06

Czech Republic Interest Rate
In Czech Republic benchmark interest rate is set by the Czech National Bank (Ceská Národní Bank CNB). The official interest rate is the two-week repo rate, a rate at which commercial banks are allowed to place excess funds at the end of the day with the Central Bank.