FX rate declared by the CNB for 18/2/2026
EUR - 24.250 CZK
USD - 20.474 CZK

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.

CNB publishes research priorities for 2026–2028

The Czech National Bank (CNB) today published its research priorities for 2026–2028. The new framework strengthens the transparency of the bank’s research activities and their link to decision-making in the areas of monetary policy and financial stability. At the same time, it enables a flexible response to new economic, financial and technological challenges.

Assessment of the fulfilment of the inflation target over the last two years

The CNB’s price stability mandate involves retrospectively assessing the fulfilment of its 2% inflation target every year. This year’s analysis assesses the fulfilment of the inflation target in 2024 and 2025, when inflation was slightly above the target. It can be said with the benefit of hindsight that the CNB’s interest rate settings were appropriate. Published as part of the Winter 2026 Monetary Policy Report.

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

CNB current 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