The CNB published today additional data on the breakdown of international reserves, their returns, structure and currency structure as of the end of 2021 Q1 in the Quarterly information on the CNB’s international reserves.
Transcript of the questions and answers from the press conference
The CNB published the introductory part of the Monetary Policy Report (together with the boxes and the table of key macroeconomic indicators). The whole Report will be published on 14 May 2021.
The results of the April survey show that while the three-year forecast is slightly higher, the average one-year inflation forecast decreased marginally. The analysts are expecting key interest rates to remain at the current level after the CNB Bank Board’s meeting in May. However, none of the analysts is now expecting the 2W repo rate to remain at 0.25% over the next 12 months. There is now even more intense speculation than before on date of the first increase in the rate. (pdf, 699 kB)
Starting in 2021, the Czech National Bank will publish additional data on the breakdown of international reserves, their returns, structure and currency structure. This information, which was previously published once a year in the Annual Report, will be published by the CNB on a quarterly basis.
In order to ensure a common understanding, the Czech National Bank has supplemented its General Approach to Setting a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) with an explanatory note stating that institutions will take a similar approach to meeting the MREL to that applied when meeting capital requirements, i.e., they will meet the requirement at all times based on the current situation of the institution.