The Czech National Bank has surprised few with its decision to cut interest rates to the lowest levels ever seen since the country split with Slovakia in 1993. Potential home buyers may be excited by the news, as it opens the way to lower mortgage rates, but the decision was sparked by an economy slipping further into recession. The national GDP levels slipped into negative territory in Q2 this year, with a fall of 0.2 percent. The bank is forecasting that the economy will end up shrinking by 0.9 percent, and that 2013 will see only anemic growth of 0.8 percent.
