The frequency of the CNB’s main monetary operations has been changed

At its meeting on 23 March 2006, the Bank Board of the Czech National Bank discussed a document concerning the frequency of the CNB's main monetary operations. After evaluating the present situation, it decided to reduce the frequency of main monetary operations to three operations a week. The change will take effect from 4 May 2006, i.e. from the beginning of the new minimum reserves maintenance period. Main monetary operations will be announced regularly every Monday, Wednesday and Friday and will usually have a maturity of 14 days.

The Czech National Bank will continue to absorb all excess liquidity from the interbank money market. Other instruments (the deposit and Lombard facilites) remain available to banks on a daily basis. The CNB will continue to predict and evaluate the liquidity position of banks every day, and will respond using its fine-tuning operations if unexpected significant fluctuations should occur.

Pavlína Bolfová, CNB spokesperson