The Czech National Bank raised its benchmark two-week repo rate by 25 basis points to 0.75% on August 5th of 2021, as expected. It follows a hike by a similar margin in the previous meeting and brings borrowing costs to its highest since April 2020. The Lombard rate was also raised by 50 bps to 1.75%, while the discount rate was left unchanged at 0.05%. source: Czech National Bank

Interest Rate in Czech Republic averaged 4.56 percent from 1995 until 2021, 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 September of 2021.

Interest Rate in Czech Republic is expected to be 1.00 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 1.75 percent in 2022 and 2.00 percent in 2023, according to our econometric models.

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Czech Republic Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.75 0.50 39.00 0.05 1995 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-03-24 01:30 PM 0.25% 0.25% 0.25% 0.25%
2021-05-06 12:30 PM 0.25% 0.25% 0.25% 0.25%
2021-06-23 12:30 PM 0.5% 0.25% 0.5% 0.5%
2021-08-05 12:30 PM 0.75% 0.5% 0.75% 0.75%
2021-09-30 12:30 PM 0.75% 1.25% 1%
2021-11-04 01:30 PM
2021-12-22 01:30 PM


News Stream
Czech Republic Hikes Key Rates as Expected
The Czech National Bank raised its benchmark two-week repo rate by 25 basis points to 0.75% on August 5th of 2021, as expected. It follows a hike by a similar margin in the previous meeting and brings borrowing costs to its highest since April 2020. The Lombard rate was also raised by 50 bps to 1.75%, while the discount rate was left unchanged at 0.05%.
2021-08-05
Czech Republic Hikes Key Rates as Expected
The Czech National Bank raised its benchmark two-week repo rate by 25 basis points to 0.50% on June 23rd of 2021, as expected. It was the first tightening move from the CNB Board since February of 2020, as headline inflation hovered the upper limit of the central bank’s 1% - 3% tolerance range in the previous two months. In May, consumer prices advanced 2.9% from a year earlier, mostly due to prices of automobiles, auto fuels and lubricants. Policymakers have said they aimed at preventing global factors, such as supply chain issues and commodity prices, from pushing headline inflation rates above the upper limit of its tolerance band. The Lombard rate was also raised by 25 bps to 1.25%, while the discount rate was left unchanged at 0.05%.
2021-06-23
Czechia Leaves Key Rates Unchanged
The Czech National Bank held its benchmark two-week repo rate unchanged at 0.25% on May 6th of 2021, as expected. Policymakers said the bank should be careful not to undermine the economic recovery by prematurely tightening monetary conditions but were receptive to start raising interest rates this year. Inflation edged higher to 2.3% in March, near a 16-month low of 2.1% hit a month earlier, and within the central bank’s 1% - 3% tolerance band. The central bank Governor admitted the bank’s growth forecast of 2.2% in 2021 could be downgraded in the next outlook. The Lombard rate and the discount rate were also kept at 1% and 0.05%, respectively.
2021-05-06
Czech Republic Keeps Rates Unchanged
The Czech National Bank held its benchmark two-week repo rate unchanged at 0.25% on March 24th of 2021 as expected, after inflation eased to a 16-month low of 2.1% in February, within the central bank’s 1% - 3% tolerance band. In 2020, the central bank cut rates by 200bps to support the economy hit by the coronavirus outbreak. The bank now expects the economy to advance 2.2% in 2021, 0.5 percentage points above previous forecasts, following an upwardly revised 5.8% contraction in 2020. The Lombard rate and the discount rate were also kept at 1% and 0.05%, respectively.
2021-03-24

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.