Czech Koruna Trades Higher Following Interest Rate Hike

The Czech koruna edged up against the US dollar during the current trading session after the nation’s central bank hiked its interest rates.

The Czech National Bank increased its benchmark two-week repo rate by 25 basis points to 0.5%. The Lombard rate was up by 50 basis points to 1%, and the discount rate remained unchanged at 0.05%. The new interest rate level will come into effect tomorrow.

USD/CZK went down by 0.08% to 21.9915 as of 14:26 GMT today.

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