FX rate declared by the CNB for 5/12/2025
EUR - 24.210 CZK
USD - 20.786 CZK

Financial market inflation expectations – November 2025

Fourteen domestic and two foreign analysts again submitted their contributions to the November survey of financial market inflation expectations. The data obtained indicate that the analysts now expect the domestic economy to grow slightly more strongly this year and next year, amid an unchanged inflation forecast, while key interest rates remain at their present levels for the next twelve months. In addition, the group of respondents who believe key interest rates will remain stable has grown. (pdf, 1 MB)

Economic growth continues to gain momentum

The CNB comments on the GDP figures for 2025 Q3

Organisational changes in the General Secretariat and the Administration Department

The General Secretariat and the Administration Department at the Czech National Bank (CNB) will be subject to organisational changes with effect from 1 December 2025. The Human Resources Division will be incorporated into the General Secretariat, which will now be headed by Helena Dybová. Miroslav Řehák will lead the Human Resources Division. Vladimír Kruliš will become Deputy Executive Director of the Administration Department, to which protocol will be transferred. The Bank Board approved the changes at its meeting on 27 November 2025.

CNB WP 13/2025 – Web Reviews as a New Leading Indicator for Nowcasting Travel Expenditure in Balance of Payments Statistics

A new study by Czech National Bank economists presents the first model using web-based reviews as a real-time indicator for travel services in the balance of payments. The findings show that online review data provide valuable signals for nowcasting — early estimates of economic figures before official statistics are released.

Pay at the CNB to rise by an average of 4.9% in 2026

Staff pay at the Czech National Bank will increase by an average of 4.9% next year. This increase was agreed by the Bank Board and the trade union. The pace of growth is consistent with the current economic situation in the Czech Republic and with the CNB’s successful fulfilment of its statutory objectives, particularly maintaining low inflation.

Taxes and insurance contributions in seconds: CNB launches instant payments for public institutions

It is now possible to pay taxes, fees, insurance contributions and other state contributions within seconds – on weekdays, weekends and public holidays. As of 18 November, tax authorities, the social security administration, health insurers and other institutions holding an account with the Czech National Bank accept instant payments.

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

2.5%

October 2025

CNB current forecast

2.5%

Inflation 2025

2.2%

Inflation 2026

2.3%

GDP 2025

2.4%

GDP 2026

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