Czech central bank again increases key interest rate

PRAGUE (AP) — The Czech Republic’s central bank has increased its key interest rate by three-quarters of a point in an effort to tackle soaring inflation. Thursday’s hike to 4.5% was the sixth straight increase since June, and analysts expected it. The bank, which considers high consumer prices a major threat, also had indicated it would raise the rate. It’s now at the highest level since January 2002. Fed by energy high prices, inflation jumped to 6.6% in November, well above the bank’s target of 2%. The Bank of England also raised rates Thursday, while the European Central Bank is being more cautious and leaving its key economic stimulus programs in place.