CNB to start publishing attributed minutes of its policy meetings

The Czech National Bank will start publishing attributed minutes of the Bank Board’s monetary policy meetings next year. This step confirms the CNB’s leading role among central banks in the area of monetary policy transparency.

The purpose of attaching names to arguments is to further enhance the information value of the minutes and to enable the public to better understand the Bank Board members’ thinking and the reasons for their voting. This should increase the predictability of the decision-making of the individual Bank Board members and hence also of the Bank Board as a whole.

The CNB will publish attributed minutes according to the standard schedule, i.e. usually eight calendar days after each monetary policy meeting, starting with the meeting in February 2020.

The above decision applies to the Bank Board’s discussions about general economic developments and the settings of the standard monetary policy instrument, namely interest rates. For any future debates about the use of unconventional monetary policy instruments (the exchange rate commitment of 2013–2017 being an example of such an instrument), the CNB reserves the right to keep the minutes, or relevant passages thereof, in anonymised form.

Markéta Fišerová
Director of the Communications Division and CNB Spokesperson