FX rates 18.09.2020
All FX rates
EUR - 26.725 CZK
USD - 22.585 CZK
GBP - 29.267 CZK

T. Nidetzký – The current inflation episode is temporary

Deputy Governor T. Nidetzký in an interview for Bloomberg: the current inflation episode is temporary and inflation will return to the CNB’s 2% target. Interest rates may remain stable for at least a year, he said.

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V. Benda – No need to ease monetary policy more

CNB Board member Vojtěch Benda expects milder steps to be taken to mitigate the pandemic than those taken in spring, so there is no need to ease monetary policy further. "The easing which we have delivered at the onset of the pandemic is sufficient," Benda told Reuters.

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Decisions on capital buffer rates for banks

The countercyclical capital buffer rate remains at 0.50% and the systemic risk buffer rates for large banks are left unchanged from 1 January 2021 onwards.

Systemic risk buffer rates

Countercyclical capital buffer rate

Basic indicators of the financial market sectors

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 2020 Q2.

Attendance of CNB Bank Board members at the monetary policy meeting on 23rd September 2020

All seven members of the Bank Board of the Czech National Bank will be attending the monetary policy meeting on 23rd September 2020.

T. Nidetzký on dividend payments

In an interview for Bloomberg, Deputy Governor T. Nidetzký commented on the temporary freeze on dividend payments by Czech banks and insurance companies owing to the coronavirus crisis. Dividend payments will not resume in all banks at the same time and discussions with the CNB will take place on an individual basis to determine if the institutions are well capitalised.
The debate with insurance companies has already started, but that with banks will not be opened until early next year. “We need to wait for the government’s measures to expire first so that we can assess the impact,” T. Nidetzký said.

Central Bank Monitoring III/2020

The room for conventional monetary policy has almost been used up, so central banks are providing additional stimulus to their economies using unconventional monetary policy measures. In Spotlight, we discuss this year’s Convergence Reports of the ECB and the European Commission, mainly from the perspective of the recent entry of Bulgaria and Croatia into ERM II. In our Selected Speech, US Fed Chair Jerome H. Powell clarifies the revised monetary policy strategy of the US central bank, which has decided to target average inflation. (pdf, 463 kB)

T. Holub – CNB’s Forecast and Current Developments

Presentation of CNB’s Forecast and Current Developments delivered by CNB Bank Board member Tomáš Holub for the Citi CEEMEA conference (pdf, 1 MB)

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.

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Key rates

0.05%

Discount Rate

0.25%

2W Repo Rate

1.00%

Lombard Rate

Inflation

3.3%

August 2020

CNB current forecast

2.2%

Inflation
2021, Q3

2.2%

Inflation
2021, Q4

-8.2%

GDP
2020

3.5%

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

CNB resumes operation of services at its branches

  • On Monday 25 May, the Czech National Bank resumed teller services for the public to the full extent. 
  • It is now possible to exchange damaged banknotes and coins and use other services for the public at the CNB offices in Prague, Brno, Ostrava, České Budějovice, Hradec Králové, Plzeň and Ústí nad Labem.
  • The Czech National Bank is reopening the CNB Archive to the public from Monday 1 June 2020.
  • The Czech National Bank is reopening the People and Money exhibition in Prague and in Brno to the public from Tuesday 2 June 2020