Banks › Czech National Bank › History › 5 Feb 2026
Czech National Bank: decision of 5 February 2026
The CNB Bank Board kept the two-week repo rate unchanged at 3.50%, with the discount rate at 2.50% and the Lombard rate at 4.50%.
Decision
hold
- Rate
- 3.50%=3.50%
- Change
- 0 bp
- Vote
- unanimous
- Announced
- 14:30 Prague time
Sources
- Statement
- cnb.cz/en/cnb-news/press-releases/CN…
- Minutes
- cnb.cz/en/monetary-policy/bank-board…?tab=record
- Press conference presentation
- cnb.cz/export/sites/cnb/en/monetary-…
- Press conference Q&A transcript
- cnb.cz/en/monetary-policy/bank-board…?tab=transcript
- Recorded
- 5 Feb 2026
- Data
- JSON
What the bank said
The Bank Board said inflation had been close to the 2% target since January 2024 and that the new forecast put headline inflation below 2% throughout 2026, mainly because the renewable energy fee was moved to the state budget.
It said core inflation would stay elevated, with a tight labour market, wages rising at an elevated pace, services inflation and property price growth all adding to inflation.
It judged that relatively tight monetary policy was still needed so that credit and money growth do not become excessive.
Guidance. The Bank Board said it would base future decisions on newly available data and that keeping inflation near 2% in the long term still requires relatively tight monetary policy.
“At present, this still requires relatively tight monetary policy.”
Before and after
- Previous decision: 18 Dec 2025, held the two-week repo rate (2W repo rate) at 3.50%.
- Next decision: 19 Mar 2026, held the two-week repo rate (2W repo rate) at 3.50%.
- All Czech National Bank decisions and the rate history