{
  "data": {
    "id": "czech-national-bank-2026-03-19",
    "bank": "czech-national-bank",
    "bankName": "Czech National Bank",
    "country": "CZ",
    "date": "2026-03-19",
    "announceAt": "2026-03-19T13:30:00Z",
    "timezone": "Europe/Prague",
    "dateStatus": "published",
    "movedFrom": null,
    "rateBefore": 3.5,
    "step": 0.25,
    "calendarSource": "https://www.cnb.cz/en/cnb-news/news/Dates-of-the-CNB-Boards-meetings-in-2026-00001/",
    "citation": "Listed among the \"monetary policy meetings\" in the CNB's published Bank Board calendar for 2026, which says \"The CNB will publish the Bank Board's monetary policy decision at www.cnb.cz at 2.30 p.m. on the day of the meeting\" (Prague time, converted to UTC).",
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      "at": "2026-03-19",
      "rateBefore": 3.5,
      "rateAfter": 3.5,
      "direction": "hold",
      "statement": "https://www.cnb.cz/en/cnb-news/press-releases/CNB-keeps-interest-rates-unchanged-00113",
      "observed": true
    },
    "page": "https://macroindex.org/bank/czech-national-bank/decision/2026-03-19",
    "account": {
      "summary": "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%.",
      "vote": "unanimous",
      "reasons": [
        "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.",
      "quote": "The favourable starting conditions in the domestic economy, in particular low inflation and robust growth, do not generate pressure for an immediate reaction.",
      "links": [
        {
          "label": "Minutes",
          "url": "https://www.cnb.cz/en/monetary-policy/bank-board-decisions/CNB-Board-decisions-1773907200000/?tab=record"
        },
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          "label": "Press conference presentation",
          "url": "https://www.cnb.cz/export/sites/cnb/en/monetary-policy/.galleries/bank_board_minutes/2026/tk_02sz2026_aj.pdf"
        },
        {
          "label": "Press conference Q&A transcript",
          "url": "https://www.cnb.cz/en/monetary-policy/bank-board-decisions/CNB-Board-decisions-1773907200000/?tab=transcript"
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      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
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    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T20:38:07.465Z",
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}