March 16, 2020 / 3:51 PM / in 18 days

Czech central bank cuts main rate by 50 basis points

PRAGUE, March 16 (Reuters) - The Czech central bank cut its main interest rate by 50 basis points to 1.75% at an extraordinary meeting on Monday and said it was ready to decrease rates further if the economy needed it amid the coronavirus outbreak.

The bank, among other measures to tackle the economic impact, also said it was reversing a previous decision to raise an extra countercyclical capital buffer rate to 2.00% and would instead leave it at 1.75%.

Reporting by Jan Lopatka and Jason Hovet; Editing by David Clarke

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