Czech National Bank keeps two-week repo rate at 0.05%, targets CZK 27 koruna vs. euro exchange rate

By Toni Weeks

San Luis Obispo, Calif., Nov. 7 - The board of Czech National Bank announced its decision to again keep interest rates at their current levels at its meeting on Thursday.

The two-week repo rate still stands at 0.05%, according to a bank notice.

In addition, the discount rate was maintained at 0.05%, and the Lombard rate is unchanged at 0.25%.

All three rates have been in effect since Nov. 2, 2012, as previously noted.

The bank also decided to start using the exchange rate as an additional instrument for easing the monetary conditions, according to a notice. The board said it plans to intervene on the foreign-exchange market if necessary to weaken the koruna so that the exchange rate of the koruna against the euro is close to CZK 27.

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