-Central bank of Czechoslovakia cuts rate.Global Banking News-June 29, 2012--Central bank of Czechoslovakia Czechoslovakia (chĕk'ōslōväk`ēə), Czech Československo (chĕs`kōslōvĕn'skō), former federal republic, 49,370 sq mi (127,869 sq km), in central Europe. On Jan. cuts rate(C)2012 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 29 June 2012
The central bank of Czechoslovakia has announced that it has cut its interest rate.
The central bank cut its main interest rate to a record low, the first change in two years. The apex bank said that low domestic demand had led to an economic recession.
Ceska Narodni Banka lowered the two-week repurchase re·pur·chase
tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es
To buy (something) again.
The act of buying something that one previously sold or owned.
Noun 1. rate by the quarter of a point to 0.5 per cent.
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