PRAGUE—The Czech National Bank (CNB) raised its main rate by 75 basis points on Thursday, surprising markets with its biggest hike since 1997 and sending a signal it would not allow inflationary expectations to grow further amid a price spike.
The Czech economy, like others around the world, is facing rising costs as it grapples with global supply snags, growing transport and energy prices, and strong demand coming after coronavirus pandemic restrictions eased earlier this year.
