Czech National Bank (CNB) is the Central Bank of Czech Republic. It is located in the capital city of Prague. It supervises the financial market of the Czech Republic. The two major objectives of the Czech National Bank of Prague are:
- price stability
- Maintain a sustainable economic growth
As per the monetary policy instruments of the Czech National Bank (CNB), the discount rate is fixed at 1.50%, Lombard rate is 3.50% and the 2-weeks repo rate is 2.50%. Excess liquidity can be deposited by banks overnight with Czech National Bank at the above mentioned discount rate. The banks can also borrow overnight funds at the above mentioned Lombard rate.
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This bank of Prague also holds open market operations in the form of REPOs (repurchase agreements).
Presently this bank of Prague employs inflation targeting monetary transmission mechanism. The main reason behind this is to stabilize inflation at around 3% per annum. The Czech National Bank in Prague thus plays a very significant role in the economic scenario of the Czech Republic.
Given below is the address and phone number of the Czech National Bank in Prague:
Czech National Bank (CNB)
Na Prikope 28
Postal Code: 115 03
Phone Number: 420 224 411 111
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