Czech National Bank

FX rate declared by the CNB for 11/2/2026

EUR - 24.245 CZK

USD - 20.375 CZK

The CNB Bank Board kept interest rates unchanged. The two-week repo rate (2W repo rate) thus remains at 3.50%, the discount rate at 2.50% and the Lombard rate at 4.50%.

News

11. 2. 2026

Assessment of the fulfilment of the inflation target over the last two years

The CNB’s price stability mandate involves retrospectively assessing the fulfilment of its 2% inflation target every year. This year’s analysis assesses the fulfilment of the inflation target in 2024 and 2025, when inflation was slightly above the target. It can be said with the benefit of hindsight that the CNB’s interest rate settings were appropriate. Published as part of the Winter 2026 Monetary Policy Report.

News

10. 2. 2026

RPN 1/2023 – Addendum: Gold and Digital Assets Update

The Czech National Bank has published a supplement (addendum) to Research and Policy Note No. 1/2023, Balancing Volatility and Returns in the Czech National Bank’s Foreign Exchange Portfolio. The addendum updates the original analysis with regard to the implementation of a new strategy to increase the CNB’s gold reserves, and extends it to include a quantitative assessment of the possible inclusion of digital assets in the foreign exchange reserves portfolio. The study assesses the impacts of these changes on portfolio returns and volatility in reserve currencies as well as in Czech koruna terms, based on the current structure of the reserves as of September 2025.

News

10. 2. 2026

AI in European firms – where is it used and how is it changing business processes?

The use of AI in Czech firms is above the EU average and is increasing across the economy. However, a more detailed look reveals that there is still scope for more intensive use of AI, particularly in manufacturing. Published as part of the Winter 2026 Monetary Policy Report.

News

9. 2. 2026

Quarterly information on the CNB’s international reserves

The CNB published today additional data on the breakdown of international reserves, their returns, structure and currency structure as of the end of 2025 Q4 in the Quarterly information on the CNB’s international reserves.

News

9. 2. 2026

The condition of Czech industry

Industry has always held a key position in the Czech economy. In recent years, however, it has been on the wane and services have taken the lead. This box provides a detailed description of the situation in Czech industry and compares it with developments in neighbouring countries. Published as part of the Winter 2026 Monetary Policy Report.

News

9. 2. 2026

Financial market inflation expectations – January 2026

Fourteen domestic and two foreign analysts took part in the first survey of financial market inflation expectations in 2026. The data obtained suggest that the one-year inflation forecast has increased slightly, while the estimate of the pace of domestic economic growth remains unchanged. This is essentially a return to its November level, so it does not represent a major change. Moreover, the three-year inflation forecast has moved in the opposite direction and decreased slightly. All the analysts who took part in the January survey assumed that the CNB’s key interest rates would not change. In addition, most of them expected the rates to remain unchanged throughout this year. (pdf, 1 MB)

Read CNB Governor Aleš Michl’s selected speeches and interviews in which he explains how the central bank is fighting inflation and what steps it is taking to achieve price stability.

Consumer prices in the Czech Republic are going up at a rate of around 2% a year. Maintaining low, stable and thus predictable inflation is the primary objective of the Czech National Bank.

The CNB Lab innovation hub is a platform that brings together the central bank’s activities in the area of innovation and modern technologies. It provides a single point of access to information on projects focused on artificial intelligence, digital assets testing and the future of payments.

By 2028, the Czech National Bank will hold 100 tonnes of gold – the most in its history – in its international reserves, gradually rebuilding the nation’s gold reserves. Why gold?

Payments are an essential part of our daily lives, and instant payments allow you to send money without the wait. How exactly do they work, and how can they make your life easier? Read more to find out.

The CNB has prepared a web portal devoted to its financial and economic literacy activities for the public.

Key rates

2.50%

Discount Rate

3.50%

2W Repo Rate

4.50%

Lombard Rate

Inflation

2.1%

December 2025

CNB current forecast

1.6%

Inflation 2026

2.1%

Inflation 2027

2.9%

GDP 2026

2.9%

GDP 2027

Capital buffer rates

1.25%

CCyB rate

0.5%

SyRB rate

2.5%

O-SIIB^max rate

Limits on credit ratios

80%

LTV

– –

DTI

– –

DSTI

Golden Rules for Bureau-de-Change Clients

Change money only at designated bureaux de change. Before changing money, carefully read all the information given on the exchange rate list.
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...

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