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Czech central bank chief: staff urged bigger hike than the 125-bps made

Published by Wanda Rich

Posted on June 23, 2022

1 min read

· Last updated: February 6, 2026

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Czech National Bank headquarters in Prague amidst discussions on interest rate hikes - Global Banking & Finance Review
The image shows the Czech National Bank's headquarters in Prague, reflecting the ongoing discussions about the recent 125 basis points interest rate hike as recommended by bank staff to combat inflation.
monetary policy interest rates financial stability
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PRAGUE (Reuters) – The Czech National Bank’s staff recommended a bigger interest rate rise than the 125 basis points delivered by the board at its monetary policy meeting on Wednesday, Governor Jiri Rusnok said. “We evaluated the broader context, which suggested that it was not necessary to go all the way with the staff proposal, […]

PRAGUE (Reuters) – The Czech National Bank’s staff recommended a bigger interest rate rise than the 125 basis points delivered by the board at its monetary policy meeting on Wednesday, Governor Jiri Rusnok said.

“We evaluated the broader context, which suggested that it was not necessary to go all the way with the staff proposal, and that doing 25 basis points less was not a problem,” Rusnok said in an interview for Czech Television on Wednesday evening.

The central bank raised its main interest rate to 7.0% on Wednesday, battling inflation at a nearly three-decade high while also backing continued market interventions to support the crown.

(Reporting by Robert Muller; Editing by Bradley Perrett)

Frequently Asked Questions

What is monetary policy?
Monetary policy refers to the actions taken by a central bank to manage the money supply and interest rates to achieve macroeconomic objectives like controlling inflation and stabilizing the currency.
What are interest rates?
Interest rates are the cost of borrowing money or the return on savings, expressed as a percentage of the principal amount. They are influenced by the central bank's monetary policy.
What is inflation?
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI).
What is a central bank?
A central bank is a national financial institution that manages a country's currency, money supply, and interest rates. It also oversees the banking system and implements monetary policy.
What is financial stability?
Financial stability refers to a condition in which the financial system operates effectively, with institutions able to manage risks, maintain confidence, and support economic growth without significant disruptions.

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