FILE - People stand outside the czech central bank in Prague, Czech Republic, on Nov. 2, 2023. On Wednesday March 20, 2024, the Czech central bank cut its key interest rate for the third straight time on amid falling inflation and an effort to help the economy. The cut by a half-percentage point brought the interest rate down to 5.75%. The cut by a half-percentage point brought the interest rate down to 5.75%. The move was expected by most analysts.
Inflation declined to 10.7% in 2023 from 15.1% in 2022, according to the Czech Statistics Office, and dropped to 2.0% year-on-year in February, which equals the bank’s target.The Czech bank’s decision comes as major central banks around the world are discussing when to start bringing down borrowing costs.
The Czech bank’s decision comes as central banks around the world, including the U.S. Federal Reserve, are trying to judge whether has been tamed to the point that they can start cutting rates — making it cheaper for consumers and businesses to borrow, spend and invest.left its key interest rate at a record high of 4% on March 7, and ECB President Christine Lagarde suggested a much-anticipated cut to borrowing costs would likely wait until June.coming also in June.
Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN - 🏆 4. / 95 Read more »
Source: AP - 🏆 728. / 51 Read more »
Source: nbcsandiego - 🏆 524. / 51 Read more »
Source: nbcchicago - 🏆 545. / 51 Read more »
Source: screenrant - 🏆 7. / 94 Read more »
Source: CARmagazine - 🏆 382. / 55 Read more »