Czech National Bank

Czech National Bank

December 21, 2017

The CNB by a 5-2 margin voted to retain the interest rate structure, with a main 2-week repo rate of 0.50% flanked by a 0.05% discount rate and a 1.0% Lombard rate. There had previously been increases in the repo rate of 25 basis points in early November and 20 bps last August, and the […] More

Czech National Bank Raises Interest Rates

November 2, 2017

The Czech National Bank’s first interest rate change was enacted in early August when the 2-week repo rate and Lombard rate were increased 20 basis points and 25 bpsĀ  to 0.25% and 0.50%, respectively. A second round of rate hikes was enacted today. The 2-week repo rate is being doubled to 0.5%, and the Lombard […] More

Czech National Bank

September 27, 2017

Monetary officials kept their 2-week repo rate at 0.25% at today’s policy review after having broken a streak dating back to November 2012 when such had been pinned at 0.05%. A ceiling on the koruna at 26.0 per euro, which was introduced in November 2013, was lifted back in April, but authorities reserve the right […] More

Czech National Bank

August 3, 2017

Although anticipated by market participants, the Czech National Bank raised interest rates today for the first time since February 2008. Monetary officials four months ago had stopped using automatic intervention to prevent the koruna from appreciating beyond 26.0 per euro. Intervention still occurs but not in a prescribed automatic and unlimited way. The Bank’s two […] More

Czech National Bank Policy Unchanged at Latest Meeting

June 29, 2017

The central bank’s key two-week repo rate has been at 0.05% since November 2012, but an asymmetric foreign exchange policy that prevented the koruna from strengthening beyond 27 per euro in the period from November 2013 was ended this past April 6. A statement after the latest CNB policy review is upbeat about growth prospects […] More

Czech National Bank

May 4, 2017

The two-week repo rate, which is the Czech National Bank’s main policy instrument now that a cap on koruna appreciation beyond 27.0 per euro has been lifted as of four weeks ago, was held steady by a unanimous vote today. It’s been at 0.05% since a cut in November 2012. According to a released statement, […] More

Czech National Bank Policy Stays Same by Unanimous Vote

March 30, 2017

The CNB Board kept its 2-week repo rate at 0.05%, the level since November 2012, and voted to maintain its asymmetric exchange rate policy that since being imposed in November 2013 has utilized intervention when necessary to prevent the koruna from strengthening beyond 27 per euro. That hard commitment is slated to expire in three […] More

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 announcementĀ 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