New Challenges in Central Banking Conference
Conference Marking the 100th Anniversary of the Founding of the National Bank of Czechoslovakia
Prague, October 6, 2026
Czech National Bank Congress Centre (The Commodity Exchange), Senovážné nám. 30, Prague 1
The conference will feature panels on excess liquidity management, central bank independence, and innovation, alongside a keynote address by Lubos Pastor (Chicago Booth).
The high-level policy panel discussion will include Claudio Borio (Former Head of the Monetary and Economic Department, BIS), Francesco Bianchi (Professor, Johns Hopkins University), Mario Centeno (Former Governor, Bank of Portugal).
The conference is an invite-only event held at the Czech National Bank in Prague, Czech Republic, and will also be streamed live on YouTube and on the CNB website. Questions regarding the conference should be sent to research@cnb.cz.
Programme
Tuesday 6 October 2026
| 8.30 | Registration & Morning Coffee |
| 9.00 | Opening Remarks Jan Frait Deputy Governor, Czech National Bank |
MODERATOR: Jakub Seidler
Board Member, Czech National Bank
| 9.10 |
Monetary policy implementation in an environment with abundant reserves (external link) |
| 9.30 | Liquidity management under changing circumstances (pdf, 592 kB) David Vestin Senior Advisor, Sveriges Riksbank |
| 9.50 |
When Are Central Bank Reserves Ample? (pdf, 5,2 MB) |
| 10.10 | Discussion |
| 10.40 | Coffee Break |
MODERATOR: Simona Malovaná
Director of the Research and Statistics Department, Czech National Bank
| 11.00 | AI and stock price bubbles (pdf, 3,8 MB) KEYNOTE: Lubos Pastor Professor, University of Chicago |
| 12.00 | Group Photo |
| 12.05 | Lunch |
MODERATOR: David Beckworth
Senior Research Fellow, George Mason University
| 13.30 | Panel Discussion |
| Claudio Borio Former Head of the Monetary and Economic Department, BIS |
|
| Francesco Bianchi Professor, Johns Hopkins University |
|
| Mario Centeno Former Governor, Bank of Portugal |
|
| 15.00 | Coffee Break |
MODERATOR: Stephanie Haffner
Digital Money Adviser, BIS Innovation Hub
| 15.30 |
The Unanchored Central Banker (pdf, 916 kB) |
| 15.50 | AI Under Uncertainty (pdf, 8,3 MB) Michal Valko Researcher Inria, Former Meta |
| 16.10 |
Levelling up our AI Game (pdf, 9,2 MB) |
| 16.30 | Discussion |
Organizing committee
- Martin Hodula (Czech National Bank)
- Alessandro Chiari (Czech National Bank)
- Václav Jeřábek (Czech National Bank)
- Josef Švéda (Czech National Bank)
- Ivan Trubelík (Czech National Bank)