Czech National Bank

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 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