Aleš Michl
Banknotes: January to March 2026
A round-up of news and salient issues that have affected central bankers in the past three months
CNB digital asset portfolio is about real learning, says Michl
Governor says bank is not looking to simulate reality but ‘touch it’ with experimental bitcoin holding
Czech Republic holds rates again and upgrades growth outlook
CNB says economy running hot on all fronts warrants restrictiveness in monetary stance
Central Banking Awards 2025: the winners in full
Awards recognise extraordinary achievements in another challenging year for central banks
Central Banking Awards 2025: final winners announced
Last group of awards includes governor of the year and lifetime achievement
Bitcoin remarks ‘a surprise to CNB staff’ – source
Concern that planned asset allocation review is just “cover-up to push through crypto”
Branching paths: the Czech National Bank’s many modelling options
Three external reviews each recommended a different combination of models. The CNB now faces tough design choices, and must also decide how to upgrade its economic research
CNB takes next step towards adopting bitcoin
Board approves governor’s proposal to look at “additional asset classes”, which could include crypto
CNB ‘considered’ adding bitcoin to reserves – governor
Governor says central bank could “continue to debate” using cryptocurrency in diversification drive
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves