The Czech Central Bank Slashes Rates As Manufacturing Contracts And Exports Wane

The Czech Central Bank Slashes Rates As Manufacturing Contracts And Exports Wane Manuel Alvarez-Rivera Writes: The Czech central bank slashed its benchmark interest rate more than expected this morning as a growing credit crunch slows down borrowing and a decline in external demand hits exports and industrial output. Manufacturing output in the Czech Republic contracted for the seventh month in a row in October, and the purchasing managers index (PMI) hit an all-time low of 41.2, just above th

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