There was never any doubt that the Czech National Bank was going to raise its base interest rate last Thursday. It’s been paving the way for months now, inching rates up first in 25 bps increments. More recently it shocked some onlookers with a 75 bps jump. But last week’s 125 bps bombshell had the immediate effect of increasing the two-week repo rate from 1.50% to 2.75%. Outgoing Czech prime minister Andrej Babiš slammed the bank for its decision, but that’s to be expected from any business mogul. The CZK is expected to rise . . .
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