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flag Czech National Bank cuts key interest rate for the second time to 6.25%, aiming to support struggling economy; inflation decreases to 10.7%.

flag The Czech National Bank has reduced its key interest rate for the second consecutive time, bringing it down to 6.25% in an effort to support the struggling economy. flag This follows a half-percentage point cut on December 21, the first cut since June 2022. flag Despite the rate cuts, the Czech economy contracted by 0.2% in the last three months of 2023 compared to the previous year. flag Inflation has decreased to 10.7% in 2023 from 15.1% in 2022, but still remains above the bank's 2% target. flag Other major central banks, like the European Central Bank and the U.S. Federal Reserve, have yet to make decisions to lower their borrowing costs due to concerns about inflation.

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