Business News

May 7, 2009, 12:04 GMT

Czech central bank cuts key interest rate to historic low ()

Prague - The Czech Republic's central bank Thursday slashed the country's key rate to an all time low in a bid to spur borrowing and boost the country's ailing economy. The Czech National Bank reduced the benchmark two-week repo rate by 25 basis points to 1.5 per cent, following a series of dramatic cuts earlier this year. The bank cut the rate amid worries that inflation would drop bellow the bank's target of 3 per cent, which it tolerates to fluctuate 1 per cent above and below. The Central European country of 10.3 million was largely spared the meltdown on world financial markets but its export-driven economy has been hit by dropping demand in Western Europe, the country's major export market. The latest cut brought the main Czech rate closer to that in the 16 countries using the euro. The European Central Bank Thursday slashed the rate to the eurozone's record low of 1 per cent.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
GASP: Goldstriker creates world's most expensive iPhone - The Tech Herald
USA Switches January Returns To One-A-Night - Cinema Blend
Guide to Avoiding Red Carpet Faux Pas - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

Czech jobless rate falls slightly to 8.5 per cent
Czech jobless rate climbs to 8.6 per cent in September
Czech Senate approves austerity package for 2010
Czech lawmakers pass plan to boost car sales
Czech inflation slows to 0.2 per cent, lowest in six years

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

Canadian army commissions new uniforms so they can better fight in Canadian cities, although some don't see the point: "I have some trouble conceptualizing what a land war fought in Vancouver would be like. Relaxed, I guess" [Obvious]
Homeland Security protects America by intecepting the first shipment of a strategy guide for the role-playing game Monsterpocalypse [Asinine]
Unnamed source gives newspaper copy of mayor's email threatening to fire any city employee who reveals that the police chief tested positive for narcotics [Obvious]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint