Uncertainty regarding future economic developments is still high, but central banks are now registering rising inflation and a positive surprise in the form of stronger-than-expected economic growth. Monetary and fiscal policies are continuing to have an expansionary effect in individual countries. However, the central banks of Norway and the Czech Republic have indicated rate increases in their forecasts, and the Central Bank of Iceland has already raised rates. The current Spotlight focuses on central banks’ inflation targets – their legal definition, their numerical values and their formulation in terms of point values or ranges – and on the inflation indices they monitor. In our Selected Speech, Deputy Governor of the Norwegian central bank Ida Wolden Bache discusses the effect of new technology and cryptocurrencies on the future shape of the financial system. (pdf, 873 kB)
Regular quarterly information on individual financial market sectors containing basic aggregate data on the activities of banks, credit unions, insurance companies, investment firms, management companies, collective investment funds, pension management companies and funds operated by pension management companies as of the end of 2021 Q1.
Working paper by P. Polák, N. Poláková and A. Tlustá to investigates the relation between international trade flows and tariffs.
The CNB comments on the GDP figures for 2021 Q1
The CNB has issued its 2020 Annual Report containing information about its activities and financial performance. Historical twenty-koruna banknotes are the dominant motif of this report. (pdf, 5 MB)