Czech National Bank

Czech National Bank Keeps Existing Policy Stance

February 2, 2017

The Czech National Bank Board retained a 0.05% two-week repo rate, the prevailing level since November 2011, and recommitted to an asymmetric currency policy that since November 2012 has used the threat of intervention and actual koruna sales to keep the Czech currency from strengthening past 27 per euro. That commitment is set to be […] More

Czech National Bank

December 22, 2016

Since November 2012, the Czech two-week repo rate has been a mere 0.05%. A year after dropping to that level, an additional asymmetric foreign exchange rate policy was added to the monetary policy toolkit, stipulating that inflation would be used to prevent the koruna from strengthening beyond the 27 per euro level but not to […] More

Czech National Bank

November 3, 2016

The CNB Board meeting concluded with an announcement of unchanged policy. The two week repo rate has been at 0.05% since November 2012. A cap since November 2013 preventing the koruna from appreciating beyond 27 per euro has been utilized as an extra tool of monetary policy enforced by intervention, and such will be maintained until […] More

Czech National Bank Leaves Policy Unchanged

September 29, 2016

Czech monetary officials still expect policy settings to remain as is until mid-2017. The policy interest rate has been at a mere 0.05% since November 2012, and the near-zero interest rate policy was supplemented a year later by the establishment of an intervention-enforced koruna cap at 27 per euro. A statement released today notes that […] More

Czech National Bank Meeting Keeps Present Policy Stance

August 4, 2016

The decision to leave Czech monetary policy settings had been expected.  The two-week repo rate has been 0.05%, effectively zero in functionality terms, since November 2012, and a one-sided intervention-enforced foreign exchange cap on koruna strength at 27 per dollar was imposed as an extra tool one year later.  According to a newly updated forecast, monetary policy-relevant […] More

Czech National Bank Policy Left the Same

June 30, 2016

The decision to leave Czech monetary policy settings had been expected.  The two-week repo rate has been 0.05%, effectively zero in functionality terms, since November 2012, and an asymmetric intervention-enforced foreign exchange cap on koruna strength at 27 per dollar was imposed as an extra tool one year later.  Officials released this brief statement. Copyright […] More

Czech National Bank

February 4, 2016

Following the central bank Board’s latest meeting, officials released a statement retaining existing policy settings, which was the result that markets anticipated.  The two-week repo rate has been at 0.05% since November 2012, and an asymmetric exchange rate policy that uses intervention to prevent the koruna from appreciating beyond 27 per euro was introduced in […] More

Czech National Bank Policy Left Unchanged

December 16, 2015

A statement released after the final Czech monetary policy meeting of 2015 confirmed the policy settings remain as is.  The interest rate structure since November 2012 has been 0.05% for the two-week repo rate and discount rate, and the Lombard rate has been 0.25%.  Since November 2013, intervention has been utilized to enforce an asymmetric […] More

Czech National Bank

November 5, 2015

Central bank officials decided to keep their stimulative monetary policy unchanged at the latest review and released a statement that rehashes the two elements of the stance.  The two-week repo rate has been at 0.05%, a virtual zero interest rate stance, since November 2012.  Since November 2013, moreover, intervention has been used to prevent the […] More

Czech Monetary Authorities Plan No Tightening of Ultra-Accommodative States Before 2H16

September 24, 2015

A statement after the latest policy review by officials at the Czech National Bank speaks of better-than-anticipated Czech domestic growth but doesn’t back away from forward guidance of a continuing very easy stance persisting into the second half of next year.  The policy combines a “technical” interest rate, which is really 0.05% with a koruna […] More

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