The Bank Board of the Czech National Bank lowered the repo interest rate by 75 basis points to 0.25 % and the Lombard rate by 0.25 basis points to 1 %. The new interest rate levels come into effect on May 11.
The Nationalbank reacts on the negative development of the market with regards to the COVID-19 pandemic and follows the cutting of the key interest rates which the Bank Board adopted on May 26, when the key interest rate was sunk by 75 basis points to 1%. The last time the key interest rates were on this level, was from August to November 2017.
