Czech National Bank (CNB)
CNB law amendment no obstacle to EU - Zeman
Czech Premier Milos Zeman does not believe that the amendment to the law on the central bank which says that the CNB in fixing its inflation target has to consult the government and introduces control of CNB's operating budget could pose an obstacle to…
CNB start paying interest on min reserves July 12
The Czech National Bank will start paying interest equal to the two-week repo rate, currently standing at 5.25 pct, on banks' minimum reserves as of July 12, 2001, Pavel Zubek of the CNB's press department told CTK news agency on Feb 1.
Czech house wants cbank aim cut from constitution
The lower house of the Czech parliament agreed on Jan. 26, 2001, to cut the central bank's policy aim out of the constitution, a part of a wider revamp of central bank laws by the country's two main parties.But the constitutional amendment is expected to…
Czech cbank cuts inflation fcast, leaves rates
The Czech central bank board, in the face of weaker price pressures, discussed the possibility of a rate cut at its regular weekly board meeting on Jan. 25 but left rates unchanged, vice-Governor Ludek Niedermayer said. Monetary department chief Ales…
Tosovsky warns of threats to CNB independence
On Dec 27, Czech National Bank (CNB) governor Josef Tosovsky said attacks on the central bank were increasing and could affect its credibility. The attackers include opposition Civic Democrat (ODS) leader Vaclav Klaus, who blames the CNB's policies for…
Havel challenges new central bank law in court
Czech President Vaclav Havel called on the country's top court on Dec 22 to strike down several key passages in a new legislation on the central bank (CNB), saying they violated the constitution.
CNB to get rid of 1000, 5000 crown banknotes
The 1993 version of 1,000 and 5,000 crown banknotes will no longer be legal tender from July 1 2001. After this date it will no longer be possible to buy goods in shops with them, but they can still be exchanged at commercial banks for three more years.
CNB Bank Board leaves interest rates unchanged
The Bank Board of the Czech National Bank CNB, which Dec 21 discussed the 12th status report on monetary and economic development, made no changes in the interest rates, spokesman Milan Tomanek told reporters after the session. The repo rate thus…
Strong growth unlikely soon,despite signs-CNB Tuma
Czech National Bank governor Zdenek Tuma said Wednesday that although the economy has exhibited many positive signs in the past year, strong growth is unlikely in the near term.
Czech Vaclav Klaus and CNB Tuma fail to agree
Czech opposition Civic Democratic Party leader Vaclav Klaus and central bank governor Zdenek Tuma today failed to reach agreement on the method of CNB's communicating with other state bodies, Klaus told journalists after the meeting.
Czech central bank concerned about external growth
A possible slowdown of Western European economies is identified as a risk to growth in the coming months, according to minutes released Tuesday by the Czech National Bank from the most recent policy meeting.
Salaries of CNB chiefs down almost 50%
The salaries of members of the Czech National Bank board will be lowered to almost one half starting next year as a result of the new amendments to the law on the central bank.
Czech c.bank less concerned over crown strength
The Czech central bank is less concerned over the strength of the crown currency as the country's economic recovery grows more robust, CNB vice governor Ludek Niedermayer said in an interview on Friday.
CNB chief, deputy minister assess joining Eurozone
The date of the Czech Republic joining the European monetary union remains unclear. It depends on the speed of the Czech Republic moving closer to the EU, on political decisions and on the harmonisation of legal systems. This was stated by Czech National…
Amended CNB law worsens EU accession chances
The Chamber of Deputies today did not identify itself with the arguments of the European Commission and decided that the controversial amended law on the Czech National Bank will take effect on 1 January 2001, central bank spokesman Milan Tomanek told…
CNB dispute may damage central bank's independence
The Czech government on Wednesday refused to approve the president's appointment of Zdenek Tuma as governor of the Czech National Bank, escalating a dispute that could damage the stability and independence of the central bank, The Financial Times writes…
Czech pres officially appoints Tuma bank governor
Czech President Vaclav Havel Wednesday officially appointed Zdenek Tuma as the new governor of the Czech National Bank at a ceremony at the presidential summer palace.