The Central Bank of the Czech Republic again kept the interest rate at 7.00%.

PRAGUE, Feb 2 (Reuters) – The Czech central bank once again kept its key interest rate unchanged on Thursday, keeping it at a maximum level for more than 20 years as the economy entered a mild recession amid double-digit inflation.

The Czech National Bank kept the two-week repo rate at 7.00%, where it had been since June, when the central bank made the latest in a series of hikes.

In total, by June, the rate had been raised by 675 basis points during the annual tightening cycle.

The decision of the Central Bank of the Czech Republic coincided with the unanimous forecast of analysts polled by Reuters.

The original message in English is available via code (Robert Müller and Jan Łopatka)