Born on 14 June 1943 in Prague. Kamil Janáček graduated from the Faculty of Trade at the University of Economics in Prague and from the Centre Européen Universitaire of Université de Nancy, France. He became a lecturer at the University of Economics in Prague in 1991 and was appointed Professor of the University of Economics in Prague in 1997.

In 1964–1992, he worked as a senior research fellow at the Institute of Economics of the Czechoslovak Academy of Sciences. In 1991, he worked for one year as an adviser to the Governor of the State Bank of Czechoslovakia. In 1992, he became Deputy Minister of Labour and Social Affairs, remaining so until 1993. From 1994 to June 2010 he was Chief Economist of Komerční banka.

He is the author (or co-author) of 19 books, 70 research studies and more than 150 articles in Czech and foreign journals. He teaches at the Faculty of Economics at the University of Economics in Prague, where he is also a member of the Scientific Council. He has received foreign research grants from NATO, the UN and the EU. He specialises in macroeconomic theory and analysis, consumption theory and analyses and forecasts of the Czech economy and the Czech transformation process in particular.

He often gives lectures at international conferences and collaborates regularly with the World Bank, the OECD and other institutions. He represented Komerční banka at the Institute of International Finance (Washington, USA) and at the ICCBE – an organisation of 25 chief economists of leading world banks. At present he represents the CNB at the IIF.

Kamil Janáček was appointed a member of the CNB Bank Board with effect from 1 July 2010.