Czech National Bank (CNB)
Czech exchange rate floor helped fight deflation – IMF paper
Range of methods imply the exchange rate floor was an effective measure, having been employed after hitting the zero lower bound
Czech central bank raises interest rates for first time in nine years
Legacy of currency defence may cause future problems, analyst argues
Should more attention be paid to house prices?
The Czech National Bank’s experiences offer insights into using a broader inflation measure with a greater weight on housing to address both monetary and macro-prudential policy requirements
Fresh exchange rate cap remains an option – CNB minutes
Minutes of extraordinary meeting say exchange rate commitment or other unconventional tools cannot be ruled out if deflation risks re-emerge
Czech National Bank abandons koruna floor
The central bank is likely to be happy with the market’s reaction, analyst says
Ending speculation on the Czech forex cap: quo vadis, CNB?
David Vavra suggests a method the Czech National Bank could use to free itself from the mounting pressure on its exchange rate peg, avoiding a “Swiss-style” exit
Czech National Bank reorganises supervision department
Bank says it will increase staffing of revamped division
People: CBRC gets new chair; Colombian board member appointed
Veteran official takes top job at Chinese banking regulator; Gerardo Hernández Correa joins Colombian central bank; appointments at ESM and Czech National Bank
Asset manager of the year: State Street Global Advisors
Boston-based asset manager not only has depth and reach – it has taken customisable services to a new level
People: Finland sets out new board responsibilities
Two new members have been appointed to the Czech central bank’s board; new counsellor to Draghi replaces Smets at the ECB
People: RBNZ appoints new CIO; former BoE deputy to chair BBC
Reserve Bank of New Zealand appoints new CIO and head of risk assessment; David Clementi, former Bank of England deputy for financial stability, to head new BBC board; and more
Czech central bank carries out internal reorganisation
Research division to be split between two departments; human resources joins general secretariat, while EU and international organisations division is moved to regulation department
Czech Republic closer to euro adoption but still not ready – CNB
Economy is converging with Europe but costly accession to single supervisory mechanism means country is not ready to begin formal process, CNB says
Eight banks struggle in Czech stress tests
Adverse scenario pushes many banks below regulatory capital minimums, though the system as a whole remains resilient, central bank says
People: Sarb reappoints deputy for second term; Central Bank of Kenya looking to replace board
South African Reserve Bank appoints Francois Groepe to serve another term; parliament has approved five new members to the Central Bank of Kenya board, but formal process not yet complete; and more
IMF staff suggest using tiers if CNB cuts rates below zero
Fund encourages Czech National Bank to prepare for ‘eventual exit’ from exchange rate commitment; suggests negative rates are viable tool but could damage bank profitability
Prospective eurozone members fail to meet convergence criteria, ECB says
Seven prospective member countries show greater convergence in their economic indicators but fail to meet requirements for their legal frameworks, ECB report says
Czech National Bank to launch second supervision department
Consumer protection and ‘retail distribution’ supervision to be moved under a new department dedicated to supervision, the second of its kind; Ladislav Kročák to become executive director
Board member appointed as next Czech governor
Rusnok has been on the board since 2014 and is a former interim prime minister; he will serve a term of “at least five years”, from July 1
Czech president names two central bank board members
Czech president Milos Zeman appoints two new members to the central bank’s board; both are former colleagues of rumoured next governor Jiří Rusnok
Czech central bank anticipates near-zero inflation in coming months
Czech central bank says monetary policy should have been easier; anticipates inflation falling towards zero in coming months but rising by end of 2016
Chinese and Czech central bank enlarge MoU to include crisis management
Czech National Bank and China’s banking regulator have deepened their existing memorandum of understanding to include working together on crisis-hit banks, Czech governor says
Singer outlines evolution of Czech reserves
Miroslav Singer tells London audience the Czech National Bank reserve allocation remains 'conservative', despite expanding into equities and new currencies in recent years
Czech Republic chooses not to set target date for euro adoption
Government decision follows central bank and ministry of finance advice; authorities cite need for greater real economic convergence as a ‘main barrier’ to adoption