Governor Jiri Rusnok signals there's more to come after the Bank nearly doubles two-week repo rate to 2.75%
Jan Lopatka and Robert MullerPrague — The Czech National Bank stunned markets again on Thursday by lifting its main interest rate by 125 basis points , delivering its biggest hike in over two decades to rein in soaring inflation and signalling borrowing costs had more room to rise.
The speed in policy tightening also shows how strongly central banks around the EU’s emerging east have had to react to sharp prices growth driven by global supply snags, as well as strong domestic labour markets. "Certainly we will discuss raising rates at further meetings," he said. "We are not going to accept … that expectations would take root here that inflation will not be around the 2% but perhaps double that. We cannot allow something like that."
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.
MARKET WRAP: Fed’s taper plan proves positive for the randUS central bank’s signal that it isn't in a hurry to hike rates bolsters currencies in emerging markets because they offer relatively higher returns for offshore investors
Read more »
NEWS ANALYSIS: Emerging central banks pressed to raise interest ratesWith inflation rearing up everywhere, money markets see hikes as a certainty
Read more »
Gold creeps up as Fed opts to keep rates steady — for nowThe US central bank will start tapering its stimulus in November
Read more »
Rand gets reprieve as Fed tempers expectations of rates hikeThe focus is now on the Bank of England’s policy meeting this afternoon
Read more »
Bank of England surprises with decision to keep rates on holdBoE policymakers led by governor Andrew Bailey vote 7-2 to keep the benchmark rate at 0.1%, defying market expectations
Read more »
Covid-19 pandemic could lead to HIV surge in West & Central Africa, says UNAIDS chiefWest and Central Africa could see a rise in HIV infections and AIDS-related deaths in a few years due to disruptions in health services because of the coronavirus pandemic, the executive director of the U.N. AIDS agency said.
Read more »