The Czech National Bank held its two-week repo rate steady at 7% for the seventh consecutive meeting in May of 2023, in line with previous pledges and market expectations, and stated that it will continue to prevent excessive fluctuations of the koruna. The decision extended the central bank’s pause from the 675bps tightening campaign that ended in June 2022, as policymakers at the CNB maintained that Czech inflation is in a downward trend and growth is slowing. Inflation slowed to 15% in March, and the bank expects price growth to return to single digits by the second half of the year. Still, policymakers recently pushed back against market bets of incoming rate cuts this year, warning against adverse effects of premature loosening. source: Czech National Bank

Interest Rate in Czech Republic averaged 4.60 percent from 1995 until 2023, reaching an all time high of 39.00 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 2023.

Interest Rate in Czech Republic is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Czech Republic Interest Rate is projected to trend around 3.75 percent in 2024 and 2.50 percent in 2025, according to our econometric models.

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Czech Republic Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-02 01:30 PM 7% 7% 7% 7%
2023-03-29 12:30 PM 7% 7% 7% 7.0%
2023-05-03 12:30 PM 7% 7% 7% 7.0%
2023-06-21 12:30 PM 7% 7.0%
2023-08-03 12:30 PM 7.0%
2023-09-27 12:30 PM 6.5%


Related Last Previous Unit Reference
Interest Rate 7.00 7.00 percent May 2023
Interbank Rate 0.17 0.17 percent Jun 2023
Money Supply M1 4823097.97 4814444.63 CZK Million Apr 2023
Money Supply M0 665104.70 661382.20 CZK Million Apr 2023
Money Supply M2 6141213.18 6077620.13 CZK Million Apr 2023
Banks Balance Sheet 9831438.50 9788819.10 CZK Million Apr 2023
Foreign Exchange Reserves 139170.00 140660.00 USD Million Apr 2023
Loans to Private Sector 1285345.10 1264682.80 CZK Million Apr 2023
Deposit Interest Rate 6.00 6.00 percent May 2023
Lending Rate 8.00 8.00 percent May 2023
Money Supply M3 6413146.62 6317249.94 CZK Million Apr 2023
Central Bank Balance Sheet 3017135.30 3076014.40 CZK Million Apr 2023
Cash Reserve Ratio 2.00 2.00 percent Apr 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
7.00 7.00 39.00 0.05 1995 - 2023 percent Daily

News Stream
Czech Republic Holds Rate at 7% as Expected
The Czech National Bank held its two-week repo rate steady at 7% for the seventh consecutive meeting in May of 2023, in line with previous pledges and market expectations, and stated that it will continue to prevent excessive fluctuations of the koruna. The decision extended the central bank’s pause from the 675bps tightening campaign that ended in June 2022, as policymakers at the CNB maintained that Czech inflation is in a downward trend and growth is slowing. Inflation slowed to 15% in March, and the bank expects price growth to return to single digits by the second half of the year. Still, policymakers recently pushed back against market bets of incoming rate cuts this year, warning against adverse effects of premature loosening.
2023-05-03
Czech Republic Keeps Interest Rate at 7%
The Czech National Bank held its two-week repo rate steady at 7% for the sixth consecutive meeting in March 2023, in line with market expectations amid signs of cooling inflation and following a year-long hiking cycle of 675 basis points. However, the central body signaled it would continue to prevent excessive fluctuations in the koruna exchange rate. The Czech annual inflation rate fell to 16.7 percent year-on-year in February from 17.5 percent in January and compared with the market expectations of 16.6 percent.
2023-03-29
CNB Holds Key Rate at 7% as Expected
The Czech National Bank held its two-week repo rate steady at 7% for the fifth consecutive decision in its January 2023 meeting, in line with market expectations amid signs of cooling inflation and following a year-long hiking cycle of 675 basis points. However, the institution signaled it would continue to prevent excessive fluctuations of the koruna exchange rate. The Czech annual inflation rate rose to 15.8 percent year-on-year in December, up from 16.2 percent in November and compared to market expectations of 16.4 percent.
2023-02-02