The Czech Republic's central bank cuts its key interest rate for the fifth time to 4.75%.

The Czech Republic's central bank cuts its key interest rate for the fifth time as inflation remains low and signs of economic recovery emerge. The interest rate drops by half a percentage point to 4.75%, with analysts predicting the move. Inflation has fallen from 15.1% in 2022 to 10.7% in 2023, reaching the bank's target of 2% year-on-year in February. The Czech economy grew by 0.2% year-on-year in Q1 2024 and 0.3% compared to the previous quarter.