After discussing the Summer 2024 Monetary Policy Report, the Bank Board lowered the two-week repo rate by 0.25 pp. Consistent with the summer forecast is a modest decline in short-term market interest rates. Inflation will be close to the CNB’s 2% target over the entire outlook, including the monetary policy horizon. The Czech economy will grow this year; GDP growth will accelerate to almost 3% next year.
This Monetary Policy Report was approved by the CNB Bank Board on 8 August 2024 and (with some exceptions) contains the information available as of 26 July 2024.
Monetary Policy Report
- Monetary Policy Report – Summer 2024 (pdf, 2.4 MB)
- Box 1 – The position of Czech exporters on the German market by comparison with Poland
- Box 2 – How do client rates on koruna loans change in response to changes in market rates?
- Appendix – The slowdown in the long-term potential growth of the Czech economy
Chartbook and underlying data
- Chartbook – Summer 2024 (pdf, 3.5 MB)
- Table of key macroeconomic indicators – Summer 2024 (xlsx 71 kB)
- Underlying data – Monetary Policy Report (xlsx, 245 kB)
- Underlying data – Chartbook (xlsx, 711 kB)
- Underlying data – Boxes (xlsx, 613 kB)
- Underlying data – Appendix (xlsx, 524 kB)
Presentation for analysts