FX rate declared by the CNB for 27/2/2026
EUR - 24.245 CZK
USD - 20.541 CZK

CNB WP 4/2026 – Social Media as a Monetary Policy Tool? Evidence from a Survey Experiment

A new article examines direct forms of monetary policy communication (monetary policy statement and related post on Facebook) and their impact on inflation expectations and public perceptions of the central bank. Based on a survey experiment conducted in the second half of 2024, it is shown that both forms of direct communication reduced respondents’ inflation expectations, mitigated the link between inflation expectations and respondents’ perception of current inflation, and improved respondents’ knowledge of the CNB’s inflation target.

Financial market inflation expectations – February 2026

Sixteen domestic and one foreign analyst contributed to the February survey of financial market inflation expectations. The results indicate that the one-year inflation forecast has increased against the backdrop of higher expected domestic economic growth this year. The three-year inflation forecast and the GDP growth outlook for next year are unchanged. At the same time, most of the analysts expect that the CNB’s key interest rates will not be changed at the upcoming Bank Board meeting, and according to the majority view, they will stay unchanged throughout the rest of this year. (pdf, 1 MB)

cnblog – The growth of NBFI and households’ financial assets: trends and risks

Over the past couple of years, the Czech non-bank financial intermediation segment has grown substantially and accumulated a large proportion of Czech households' savings in its assets. What macroeconomic risks are associated with the allocation structure of household financial wealth, and how would the materialisation of these risks affect the real economy and the financial system? This is the topic of a blog post by CNB experts Martin Časta and Patrik Maňas.

CNB WP 3/2026 – Monetary Policy and the Output Gap in DSGE Models for Small Open Economies: Insights from the Czech Republic

A newly released CNB Working Paper shows that different definitions of the output gap in a DSGE model affect how we interpret the economy’s position in the business cycle and what implications this may have for monetary policy under an inflation-targeting regime. Although the analysis is based on the Czech Republic as a small open economy, the conclusions can be generalized to other small open economies with similar characteristics.

Inflation falls to 1.6% in January due to the supported energy sources fee

The CNB comments on the January 2026 inflation figures

Dates of the CNB Board’s meetings in 2026

The Czech National Bank has published an updated calendar of the CNB Board’s meetings in 2026.

Read CNB Governor Aleš Michl’s selected speeches and interviews in which he explains how the central bank is fighting inflation and what steps it is taking to achieve price stability.

Consumer prices in the Czech Republic are going up at a rate of around 2% a year. Maintaining low, stable and thus predictable inflation is the primary objective of the Czech National Bank.

The CNB Lab innovation hub is a platform that brings together the central bank’s activities in the area of innovation and modern technologies. It provides a single point of access to information on projects focused on artificial intelligence, digital assets testing and the future of payments.

By 2028, the Czech National Bank will hold 100 tonnes of gold – the most in its history – in its international reserves, gradually rebuilding the nation’s gold reserves. Why gold?

Payments are an essential part of our daily lives, and instant payments allow you to send money without the wait. How exactly do they work, and how can they make your life easier? Read more to find out.

The CNB has prepared a web portal devoted to its financial and economic literacy activities for the public.

Key rates

2.50%

Discount rate

3.50%

2W repo rate

4.50%

Lombard rate

Inflation

1.6%

January 2026

Current CNB forecast

1.6%

Inflation 2026

2.1%

Inflation 2027

2.9%

GDP 2026

2.9%

GDP 2027

Capital buffer rates

1.25%

CCyB rate

0.5%

SyRB rate

2.5%

O-SIIBmax rate

Limits on credit ratios

80%

LTV

– –

DTI

– –

DSTI

Golden Rules for Bureau-de-Change Clients

  1. Change money only at designated bureaux de change. Before changing money, carefully read all the information given on the exchange rate list.
  2. The terms “purchase and sale of foreign currency” and the corresponding exchange rates, i.e. the information about the direction of the exchange, are given from the bureau de change’s perspective...

More about ten golden rules