The Czech central bank again cuts a key interest rate as inflation stays low and economy recovers

PRAGUE (AP) — The Czech Republic’s central bank has cut its key interest rate for the fifth straight time as inflation remains low and the economy shows signs of recovery. The cut by a half-percentage point brought the interest rate down to 4.75%. The cut, which had been predicted by analysts, brought the interest rate down by a half-percentage point, to 4.75%. The bank started to trim borrowing costs by a quarter-point on Dec. 21, which marked the first cut since June 22, 2022. The European Central Bank cut its key interest rate on June 6, moving ahead of the U.S. Federal Reserve in lowering rates.