PRAGUE (AP) — The Czech Republic’s central bank cut its key interest rate for the second straight time Thursday in an effort to help the struggling economy.
The cut by a half-percentage point brought the interest rate down to 6.25%.
Photos You Should See View All 15 ImagesThe Czech bank's decision comes as major central banks around the world are discussing when to start bringing down borrowing costs.
The European Central Bank left its benchmark rate unchanged at a record-high 4% on Jan. 25, saying it was premature to discuss cuts.
Last week, the U.S. Federal Reserve kept its benchmark interest rate steady, indicating that it needed to see more evidence that inflation is truly in check before making cuts.
Organizations:
Czech Statistics Office, European Central Bank, U.S . Federal Reserve, Bank of England
Locations:
PRAGUE, Czech