Banks › Czech National Bank › History › 19 Mar 2026
Czech National Bank: decision of 19 March 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
- 19 Mar 2026
- Data
- JSON
What the bank said
The Bank Board said inflation fell to 1.4% in February, the lowest in ten years, and that the updated forecast, partly reflecting higher oil prices, kept headline inflation below 2% this year while core inflation stays elevated.
It said the conflict in the Middle East was a specific risk, but the Monetary Department's analysis found the current impacts did not jeopardise the low-inflation environment.
It said low inflation and robust growth gave room for analysis rather than an immediate reaction, while credit growth, a tight labour market and services inflation still called for relatively tight policy.
Guidance. The Bank Board said it would base decisions on new data, carefully monitor the impacts of the Middle East conflict, and that keeping inflation near 2% still requires relatively tight monetary policy.
“The favourable starting conditions in the domestic economy, in particular low inflation and robust growth, do not generate pressure for an immediate reaction.”
Before and after
- Previous decision: 5 Feb 2026, held the two-week repo rate (2W repo rate) at 3.50%.
- Next decision: 7 May 2026, held the two-week repo rate (2W repo rate) at 3.50%.
- All Czech National Bank decisions and the rate history