FX rates 21.10.2024
All FX rates
EUR - 25.270 CZK
USD - 23.279 CZK
GBP - 30.321 CZK

Bank lending survey – IV/2024

In 2024 Q3, household demand for loans for house purchase and consumption continued to grow, and corporations’ demand for loans also rose after previous declines.

cnBlog – Blockchain use cases outside of digital currencies

Blockchain technology is closely associated by the public with crypto assets, such as the most well-known, Bitcoin. In his blog post, Alexis Derviz from the Monetary Department explores its use in areas outside digital currencies, such as security and the protection of property rights.

CNB increases minimum reserve requirement

At its meeting on 10 October 2024, the Bank Board decided to change the minimum reserve requirement. The current rate of 2% is to increase to 4% of the reserve base, except for repo liabilities. This applies to banks, foreign bank branches and credit unions. The new rate becomes effective on 2 January 2025, i.e. on the first day of the new reserve maintenance cycle. The CNB took this step to lower the cost of implementing monetary policy while preserving its effectiveness.

Inflation increases in September 2024, but remains within the tolerance band around the CNB’s 2% target

The CNB comments on the September 2024 inflation figures

Financial market inflation expectations – September 2024

Thirteen domestic and three foreign analysts sent in their contributions to the September survey of financial market inflation expectations. The results reveal that the average annual inflation forecast changed only slightly, rising modestly at the one-year horizon but falling to the same extent at the three-year horizon. The estimate for Czech economic growth this year is unchanged, but the outlook for next year is slightly more pessimistic. All the analysts in the September survey were correctly expecting the CNB Bank Board to cut key interest rates by 25 basis points at the September meeting. (pdf, 1 MB)

CNB WP 4/2024 – A Heterogeneous Agent Model of Energy Consumption and Energy Conservation

In this paper, the authors investigate whether inflation-targeting monetary policy affects households' incentives to build resilience against energy price shocks. They modify a stylized heterogeneous agent New Keynesian model with search and matching frictions in the labor market and nominal asset holdings to include energy in consumption and production, and energy conservation capital, so that energy price fluctuations affect both the supply and demand side of the economy. In such a framework, the authors study the responses of energy conservation to monetary policy, rising energy prices, and their interaction.

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.

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

The older 1995–1999 versions of Czech banknotes have ceased to be legal tender. How can you identify the invalid banknotes most easily and where can you exchange them?

Read the CNB’s regular and occasional publications.

Key rates

3.25%

Discount Rate

4.25%

2W Repo Rate

5.25%

Lombard Rate

1.25%

CCyB
Rate

Inflation

2.6%

September 2024

CNB current forecast

2.2%

Inflation
2024

2.0%

Inflation
2025

1.2%

GDP
2024

2.8%

GDP
2025

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

CNB resumes operation of services at its branches

  • All branches and regional offices of the Czech National Bank will return to full operation, five days a week, from Monday, 14 December 2020.
  • The standard opening hours for CNB clients and the public will be Monday to Friday from 7.30 am to 2.00 pm, with a lunch break from 11.30 am to 12.30 pm.
  • Before your visit, you can check the opening hours for each of our offices on the CNB website (Prague, Brno, Ostrava, Plzeň, Hradec Králové, České Budějovice and Ústí nad Labem).