FX rate declared by the CNB for 22/5/2025
EUR - 24.940 CZK
USD - 22.044 CZK

CNB WP 6/2025 – The Rise of Generative AI: Modelling Exposure, Substitution, and Inequality Effects on the US Labour Market

This paper simulates how 711 US occupations are exposed to AI based on cognitive skill requirements. At low AI capabilities, 7% of skills are affected; at high capabilities, up to 36% on average and 45% in top-wage jobs. Low-level AI tends to support workers by handling side tasks, while more advanced AI begins to substitute core skills, especially in lower-wage jobs, possibly increasing inequality. Surprisingly, high-skilled white-collar jobs remain relatively safe due to the complexity of their core tasks.

Minutes of the Bank Board Meeting

Minutes of the Bank Board meeting on 7 May 2025

Changes in the Financial Markets and Resolution and Financial Stability Departments

At its meeting on 15 May 2025, the Bank Board of the Czech National Bank (CNB) approved changes in the bank’s organisational structure with effect from 1 June 2025. The Resolution Division will be transferred from the Financial Markets and Resolution Department to the Financial Stability Department.

Results of the 2025 Euro Survey

Five analysts from leading Czech financial institutions took part in this year’s survey of analysts on current European topics and the Czech Republic’s accession to the euro area. In their responses, they outlined their subjective views on a wide range of questions, painting a picture that shows how representatives of the professional public view current developments in the European Union (EU). (pdf, 407 kB)

cnBlog – Less theory, more reality: Semi-structural models have a lot to offer

The Czech National Bank is developing two semi-structural forecasting models with the potential to expand its modelling framework and further enhance the accuracy of its economic forecasts. In their blog article, CNB Research and Statistics Department experts Simona Malovaná and Stanislav Tvrz discuss the key features of semi-structural models, why they are popular among central banks in various countries around the world, and what their advantages and disadvantages are.

Inflation is at its lowest level in seven years

The CNB comments on the April 2025 inflation figures

Read CNB Governor Aleš Michl’s selected speeches and interviews in which he explains how the central bank is fighting inflation and what steps it is taking to achieve price stability.

Consumer prices in the Czech Republic are going up at a rate of around 2% a year. Maintaining low, stable and thus predictable inflation is the primary objective of the Czech National Bank.

The CNB has prepared a web portal devoted to its financial and economic literacy activities for the public.

Read the CNB’s regular and occasional publications.

By 2028, the Czech National Bank will hold 100 tonnes of gold – the most in its history – in its international reserves, gradually rebuilding the nation’s gold reserves. Why gold?

Payments are an essential part of our daily lives, and instant payments allow you to send money without the wait. How exactly do they work, and how can they make your life easier? Read more to find out.

Key rates

2.50%

Discount Rate

3.50%

2W Repo Rate

4.50%

Lombard Rate

Inflation

1.8%

April 2025

CNB current forecast

2.5%

Inflation 2025

2.2%

Inflation 2026

2.0%

GDP 2025

2.1%

GDP 2026

Capital buffer rates

1.25%

CCyB rate

0.5%

SyRB rate

2.5%

O-SIImax rate

Limits on credit ratios

80%

LTV

– –

DTI

– –

DSTI

Golden Rules for Bureau-de-Change Clients

  1. Change money only at designated bureaux de change. Before changing money, carefully read all the information given on the exchange rate list.
  2. The terms “purchase and sale of foreign currency” and the corresponding exchange rates, i.e. the information about the direction of the exchange, are given from the bureau de change’s perspective...

More about ten golden rules