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Central bank unexpectedly cuts rates to record

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The Czech central bank unexpectedly lowered the benchmark interest rate by a quarter-point to a record low to help shelter an economy struggling to recover momentum from the impact of the Greek debt crisis. The Czech National Bank’s board voted 4-2 Thursday to reduce the two-week repurchase rate to 0.75%, a quarter-point below the European Central Bank’s benchmark, the Prague-based bank said in a statement.

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