Czech National Bank

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Template:Use dmy dates Template:Infobox Central bank View of the rear Entrance of the Czech National Bank headquarters in Prague The Czech National Bank (Template:Lang-cs, ?NB) is the central bank and financial market supervisor in the Czech Republic with its headquarters in Prague. The Bank's governor is Miroslav Singer. In accordance with its primary objective, the ?NB sets monetary policy, issues banknotes and coins and manages the circulation of currency, the payment system and settlement between banks. It also performs supervision of the banking sector, the capital market, the insurance industry, pension funds, credit unions and electronic money institutions, as well as foreign exchange supervision.

Mission

Primary objective of ?NB as stated in the Act on ?NB is price stability. Secondary objective is to support a sustainable economic growth. Currently in employs inflation targeting monetary transmission mechanism. The goal is to stabilize inflation around 2.0% per annum.

Board members

  • Miroslav Singer (Governor)
  • Mojmír Hampl (Vice-Governor)
  • Vladimír Tomšík (Vice-Governor)
  • Kamil Janá?ek
  • Lubomír Lízal
  • Pavel ?ežábek
  • Eva Zamrazilová

Monetary policy instruments

Banks can deposit excess liquidity overnight with ?NB at the discount rate and can borrow overnight funds at the lombard rate. Thus these two rates create a corridor for the short-term money market rates. Moreover ?NB conducts open market operations in the form of repurchase agreements (REPOs). The basic duration is 2 weeks. Currently ?NB is absorbing excess liquidity. The aim of these operations is to influence the short-term rates which subsequently affects the economic activity, flow of capital and inflation.

See also

  • Economy of the Czech Republic
  • Czech koruna

External links

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Template:Central banks Template:Central banks of the European Union

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