At its 17 December monetary policy meeting, the Czech National Bank (CNB) decided to leave the two-week repo rate unchanged at 0.05%, a decision that was on par with market expectations. The CNB has kept the two-week repo rate at this record low since November 2012. In addition, monetary officials reiterated their commitment to intervening in the foreign exchange market in order to weaken the Czech koruna against the euro at around CZK 27.0 per EUR. The market had also expected this decision, which seeks to further ease monetary policy.
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