Governor Rusnok shares CNB’s experience of inflation targeting at prestigious Bank of Israel conference

On Sunday, 4 November 2018, the Bank of Israel hosted monetary policy makers from around the world in honour of Governor Karnit Flug, whose five-year term as head of the central bank of Israel is about to end.

Czech National Bank Governor Jiří Rusnok was among the speakers on a panel dedicated to monetary policy and experience of inflation targeting (presentation (pdf, 533 kB)). The other speakers included Banco de Brasil President Ilan Goldfajn and Sveriges Riksbank Deputy Governor Martin Flodén. Their partners in the debate were two former governors of the Bank of Israel – Stanley Fischer, who was also Vice-President of the Federal Reserve System, and Jacob Frenkel, who now works at JP Morgan Chase.

The Czech National Bank and the Bank of Israel share an unconventional approach to monetary policy. The Czech Republic was the third country in the world after Switzerland and Israel to use the exchange rate as an additional monetary policy instrument.

Markéta Fišerová
Director of the Communications Division and CNB Spokesperson