Amid a booming economy, the Czech Republic's central bank has raised its key interest rate by a quarter point to 0.75 percent.
Thursday's rate increase is the third since August, the latest made in November.
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The bank estimates that the economy grew 4.5 percent last year and that the annual inflation rate reached 2.7 percent as of December, above the bank's target of 2 percent.
In 2012, the bank had slashed its key interest rate to 0.05 percent, the lowest since the 1993 split of Czechoslovakia to help the struggling export-oriented economy.
The 19 eurozone states, including Germany, are the country's major trading partners but the Czech leaders have yet to set a date for adopting the euro.