FX rates 16.04.2025
All FX rates
EUR - 25.010 CZK
USD - 22.030 CZK
GBP - 29.223 CZK

Integrated Rescue System (IRS) security exercise takes place at CNB headquarters

On Monday 14 April, a planned security exercise of the Integrated Rescue System (IRS) units took place at the Czech National Bank’s headquarters in Prague. Its aim was to test the preparedness and coordination of individual IRS units in dealing with emergencies at a bank. This was one of the exercises regularly organised for the emergency services.

Inflation remains at 2.7% in March

The CNB comments on the March 2025 inflation figures

CNB WP 4/2025 – Instant Payments in Czechia: Adoption and Future Trends

In this paper, the authors describe the implementation and functioning of the instant payment system in the Czech Republic, as well as the role of the Czech National Bank in efforts to increase the efficiency of payment transactions. Utilizing daily data from the Czech interbank payment system CERTIS, the study evaluates the adoption of instant payments by clients over time and the influence of individual bank characteristics on this adoption. The findings show that, in the past calendar year, instant payments in the domestic market accounted for half of all retail interbank transfers. The authors also place the Czech instant payment system in an international context, discussing the benefits and security risks associated with such systems, as well as the potential future development of payment systems.

Government not to set euro adoption date for now

The government has acknowledged the joint recommendation of the Ministry of Finance and the Czech National Bank not to set a date for adopting the single European currency for the time being. The recommendation is based on the findings contained in Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area. This document has provided an objective assessment of the Czech Republic’s economic preparedness for adopting the euro since the country joined the European Union.

CNB WP 3/2025 – Non-Linearity of Government Spending Multiplier: The Case of a Small Open Economy

Study explores the non-linearity of the government spending multiplier in a small open economy. Using a smooth transition VAR (STVAR) model, captures how the effectiveness of fiscal policy varies across different phases of the business cycle. The results indicate that government spending has a considerably stronger impact on economic output during downturns than in periods of expansion. Moreover, the analysis suggests that the size of the multiplier tends to increase as overall economic performance declines. This approach enhances our understanding of how fiscal policy works under varying macroeconomic conditions and can contribute to more accurate forecasting in both monetary policy and broader macroeconomic decision-making.

Financial market inflation expectations – March 2025

Fourteen domestic and one foreign analyst contributed to the March survey of financial market inflation expectations. The data indicate that, given the unchanged view of GDP growth this year and the next, there was a slight increase in expected inflation at both the one-year and three-year horizons. At the same time, the analysts have slightly revised the expected reduction in key interest rates and are now anticipating a slower pace. (pdf, 1 MB)

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

2.75%

Discount Rate

3.75%

2W Repo Rate

4.75%

Lombard Rate

Inflation

2.7%

March 2025

CNB current forecast

2.4%

Inflation 2025

2.1%

Inflation 2026

2.0%

GDP 2025

2.4%

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