The Czech National Bank (CNB) lowered interest rates by 0.50 percentage points to 4.75% at its monetary meeting on June 27. It is the lowest interest level since April 2022 and CNB has maintained the easing cycle which it began with last December. Five CNB board members voted in favour, while two members voted for lowering rates by 0.25 pp, CNB noted in a statement on the decision. The move also came as a surprise to domestic market analysts who projected CNB would now ease the rates at a more careful pace and CNB’s governor Ales Michl foreshadowed CNB would take a more careful approach at its…