Czech industrial output fell for the second straight month in June, a result that’s put the question of an interest rate cut back on the agenda for the Czech National Bank. Industrial production dropped 2.2 percent y-o-y, compared to a 2.4 decline a month earlier, according to Czech Statistics Office figures. This was worse than the forecast of a 2 percent decline in a Bloomberg survey of 13 analysts. After cutting the benchmark two-week repo rate to a record low in June, the central bank’s board was split last week on whether to lower borrowing costs further in view of the worsening economic outlook, Bloomberg reported. It added that two board members were pushing for a 0.25 percent cut, while the remaining four took a wait-and-see approach.
