ČNB raises interest rate

The Czech National Bank raised its base interest rate on Thursday by 25 basis points to 1.75%. This is the fifth time the CNB has raised the rate this year, in its efforts to combat a weakened Czech Crown, low unemployment and rising inflation.

Mortgage rates are expected to reflect the new rate next month. The CNB also revised the growth forecast for this year downward to 3.1% and to 3.1% for 2019.



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