Czech National Bank (CNB)
EC concern over independence of Czech c bank
CZECH REPUBLIC - The European Commission (EC) is worried about continued threats to the independence of the Czech National Bank (CNB), including the independence of the bank's board members, according to this year's annual assessment report.
Czech nat bank critical of gov't pressure on rates
CZECH REPUBLIC - Czech National Bank Governor Zdenek Tuma Thursday criticised Prime Minister Milos Zeman and Finance Minister Jiri Rusnok for publicly urging the central bank to cut interest rates in recent weeks.
OECD recommends more power to banks regulator
CZECH REPUBLIC - The Czech Republic can best minimise risks to its banking sector by creating preconditions for a more effective functioning of the regulator, the Czech National Bank (CNB), says a recently published study by the OECD on the Czech economy.
CNB will publish meeting records after six years
CZECH REPUBLIC - The Czech National Bank (CNB) has decided to publish the records of the bank board meetings. The central bank reacts to the interest and specific needs of economic analysts, economics students and historians of the Czech economy or of…
Court confirms validity of Tuma as CNB head
CZECH REPUBLIC - The Czech Constitutional Court on 20 June confirmed the validity of President Vaclav Havel's appointment of Zdenek Tuma as Czech National Bank (CNB) governor and Ludek Niedermeyer as vice governor.
Klaus makes visit to CNB
CZECH REPUBLIC - A meeting of Chamber of Deputies chairman Vaclav Klaus with the Czech National Bank (CNB) Board on 14 May at CNB's invitation can be understood as an expression of the central bank's readiness to shake hands and make up.
Czech cbanker sees no CPI impact from deficit
CZECH REPUBLIC - Czech central bank Vice-Governor Oldrich Dedek said on Apr 23 the poor state of public finances remains a concern but he expects to see no inflationary impact from it in 2001.
Govt might question CNB governor's appointment
CZECH REPUBLIC - The Czech government could question the appointment of Zdenek Tuma as Czech National Bank governor by lodging a complaint with the Constitutional Court, Deputy Premier Pavel Rychetsky said on Apr 18.
IMF forecasts 3% growth in Czech Republic
CZECH REPUBLIC - The International Monetary Fund said on Apr 17 it expected the Czech economy to grow by around three percent 2001 after 3.1 percent in 2000.
Zdenek calls for state finance reform-paper
CZECH REPUBLIC - Czech public finance deficits could threaten the country's macroeconomic stability in two or three years if reforms are not taken, daily Hospodarske Noviny quoted the central bank Governor Zdenek Tuma as saying on Apr 13.
Inflation targeting improved-CNB Niedermayer
CZECH REPUBLIC - The effectiveness of the inflation targeting of the Czech National Bank CNB should be improved with the shift to targeting of overall inflation and setting a corridor for price movements up to 2005, CNB vice-governor Ludek Niedermayer…
CNB appoints new executive director for markets
CZECH REPUBLIC - The Czech National Bank has announced that Tomas Kvapil will be the new executive director for financial markets as of Apr 1, 2001, filling the post which was left vacant when Radek Urban left at the end of February.
Alice Frisaufova is new spokesperson at CNB
CZECH REPUBLIC - The Czech National Bank board at its session on Apr 5 approved the appointment of Alice Frisaufova, communication manager and spokeswoman for Ahold, as a new spokeswoman for CNB and head of the bank's PR department.
Euro-MP says Czechs must change central bank law
CZECH REPUBLIC - The chairwoman of a European Parliament committee said on Mar 28 that a new Czech law increasing politicians' influence over the central bank must be amended to bring it into line with European Union treaties.
Fitch cuts Czech currency rating, crown hit
CZECH REPUBLIC - International rating agency Fitch on Mar 28, 2001 cut the Czech Republic's long-term local currency rating, knocking the crown off recent historic highs, though analysts said the currency's firming trend remains.
CNB Board members backed Feb 22 rate cut by 6-1
Six members of the CNB Board voted in favour of the cut in the two-week repo rate by 0.25 percentage points to 5 pct, and one member was in favour of leaving rates at their current level, according to the minutes of the CNB Board meeting held on Feb 22…
Central Bank Seigniorage: Czech Republic 1993-1997
Jacek Cukrowski from the CERGE-EI and Emil Stavrev from the Czech National Bank have written an article "Central Bank Seigniorage: Czech Republic 1993-1997". The authors present a new comprehensive framework for measuring total gross seigniorage and its…
Czech cbank surprises, cutting rates by 25bp to 5%
More than a year after it last cut interest rates, the Czech National Bank on Feb 22, 2001 said it was lowering its two-week repo rate to 5% from 5.25%, its discount rate to 4% from 5% and the Lombard rate to 6% from 7.5%.
CNB - rates cut due to low inflation outlook
The Czech National Bank board on Feb 23, 2001 cut interest rates because the low inflation outlook and because the move doesn't jeopardize price stability, central bank officials said.
CNB not to undershoot target again- Frait
The Czech National Bank (CNB) should not undershoot its inflation target in 2001 again and must react in time, said Jan Frait, a member of the CNB Bank board. "There is probably no danger that we undershoot the target once again, otherwise it could be a…
CNB Bank Board leaves interest rates unchanged
The Czech National Bank (CNB) Board made no monetary decisions at its session on Feb. 8, 2001, Pavel Zubek of the CNB's PR department told reporters after the session. The Bank Board left rates unchanged at the last monetary session held two weeks ago as…
Czechs to mull foreign bond issue - Deputy FinMin
The Czech central bank (CNB) board should discuss at the beginning of March 2001 the possibility of tapping foreign markets for a bond issue, Deputy Finance Minister Eduard Janota said on Feb 7."We are analysing the current situation on the bond market…
Czech cbank board vote unanimous on holding rates
The Czech central bank board voted unanimously to keep its main interest rates unchanged at its monetary policy meeting on Jan. 25, 2001, after considering a move in the discount and Lombard lending rates. Minutes from the meeting, which showed a…
Radek Urban leaving Czech National Bank
Radek Urban has left the Czech National Bank where he was executive director of the financial markets department. On March 1 he will joining the asset management department of Ceska Sporitelna in Prague. Mr Urban has played a key role in developing the…