FX rates 27.11.2020
All FX rates
EUR - 26.220 CZK
USD - 21.993 CZK
GBP - 29.312 CZK

CNB confirms countercyclical capital buffer rate and mortgage limits

The CNB Bank Board confirmed the countercyclical capital buffer rate for banks at 0.5% and the LTV limit for mortgage loans at 90%. Banks remain resilient to the potential adverse impacts of the coronavirus crisis.

Details

M. Mora – Economic outlook for the Czech Republic

Deputy Governor M. Mora in his presentation for Virtual Client Meeting with Deutsche Bank Prague: “In the light of significant uncertainties, the Bank Board considers it likely that interest rates will be left at a low level for longer than assumed in the baseline scenario of the forecast.” (pdf, 803 kB)

Article detail

VlogČNB – When coffee gets more expensive or the elasticity of price substitution in international trade

Our colleagues J. Schwarz and J. Bajzík recently published an article on the Armington elasticity in the prestigious Journal of International Economics. An interview with J. Schwarz, adviser to the Bank Board, reveals the importance of this elasticity for international trade.

Video (with English subtitles)

CNB representative re-elected as member of EIOPA management

Executive Director of the CNB’s Financial Market Supervision Department Zuzana Silberová was re-elected as one of the seven members of the Management Board of the European Insurance and Occupational Pensions Authority (EIOPA) on 26 November 2020. This will be her second term in office.

Provision of a general nature on setting the countercyclical capital buffer rate for the Czech Republic No. IV/2020

The CNB has issued a Provision of a general nature on setting the countercyclical capital buffer rate for the Czech Republic, leaving the rate unchanged at 0.5 %. Given the high capital surpluses in the banking sector and continuing credit growth, it is not currently necessary to lower the CCyB rate further. However, the CNB remains ready to release the buffer immediately and fully, in order to support banks’ ability to provide credit to non-financial corporations and households without interruption.

CNB WP 4/2020 – Sovereign Capital, External Balance, and the Investment-Based Balassa-Samuelson Effect in a Global Dynamic Equilibrium

The paper by Alexis Derviz, with the help of a specifically developed numeric full distribution solution method for two-country DSGE models, investigates the relation between the originator residency of traded assets, relative country size, relative financial strength of the two countries, and the observed external imbalance. It comes to the conclusion that the residency privilege gives rise to an investment behavior that compensates for differences in physical capital endowments but, at the same time, is decisively influenced by differences in financial wealth endowments on both sides of the border.

Update of Financial Stability Report 2019/2020

Presentation by CNB Governor Jiří Rusnok and Executive Director of CNB Financial Stability Department Jan Frait for the press conference (pdf, 489 kB)

Notice about the activities of COOPER MARKETS s.r.o.

The CNB wishes to warn the public that COOPER MARKETS s.r.o., which is offering the possibility of trading in financial derivatives via the CP Markets platform on its website https://web.coopermarkets.com/, holds no authorisation to provide investment services or any other financial market services in the Czech Republic, and its activities are not supervised by the CNB.

Global Economic Outlook 11/2020 is out now

The November issue of Global Economic Outlook presents the regular overview of the latest and expected developments in selected territories. The thematic section focuses on trends in air transport this year. It analyses the different impacts of the anti-pandemic measures on the traditional and low-cost airlines and on the sectors related to the aviation industry, and discusses how air carriers and aircraft manufacturers are trying to cope with the current situation.

CNB versus coronavirus

The CNB is taking steps to support an economy hit by the coronavirus epidemic. You will find a comprehensive overview of everything that might interest you in connection with the coronavirus and the CNB at a special website.

Visit special website

Key rates

0.05%

Discount Rate

0.25%

2W Repo Rate

1.00%

Lombard Rate

Inflation

2.9%

October 2020

CNB current forecast

2.2%

Inflation
2021, Q4

2.1%

Inflation
2022, Q1

-7.2%

GDP
2020

1.7%

GDP
2021

Golden Rules for Bureau-de-Change Clients

  1. Change money only at designated bureaux de change. Before changing money, carefully read all the information given on the exchange rate list.
  2. The terms “purchase and sale of foreign currency” and the corresponding exchange rates, i.e. the information about the direction of the exchange, are given from the bureau de change’s perspective...

More about ten golden rules

Limited acces to CNB buildings

  • The CNB's archive, CNB's special library and the People and Money exhibitions in Prague and Brno are closed until further notice.