Monetary Department

  • Monetary Policy and Fiscal Analyses Division
    Zdeněk Pikhart, Director
  • External Economic Relations Division
    Luboš Komárek, Director
  • Macroeconomic Forecasting Division
    Jakub Matějů, Deputy Executive Director, Acting Director

Responsible for

  • preparing conceptual materials and proposals in the monetary policy area, i.e. preparing analyses and documents on the CNB’s monetary strategy and inflation targeting methodology
  • producing the content of communication of strategic and operational aspects of the CNB’s monetary policy
  • preparing comprehensive analyses and forecasts of monetary and economic developments, including Monetary Policy Reports
  • preparing analyses of the monetary policy transmission mechanism, analyses relating to external aspects of the CNB’s monetary policy and to the ECB’s monetary policy, analyses in the area of public finance and fiscal policy, structural analyses, etc.
  • coordinating the preparation of monetary policy documents on membership of the Czech Republic in the euro area
  • submitting proposals for the coordination of monetary policy and government economic policy, and preparing opinions on documents for comments procedures and for the government where those documents relate to monetary policy, public finance, the state budget and the real economy
  • preparing draft monetary legislation
  • coordinating CNB´s relations with the General Council of the ECB, international organizations relevant to the CNB (including rating agencies) and preparing the Czech Republic's positions on IMF materials
  • representing the CNB at meetings of the SCIMF, ESCB (IRS a MPC) and EPC

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