Europe

Czech National Bank

Too few recent speeches for a current tone.

Speeches: 72
First speech: Feb 17, 1997
Latest speech: Apr 30, 2026
Tone vs coming rate moves: Not tested; too few speeches or no published rate

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Apr 30, 2026	Aleš Michl: Forever hawkish Ales Michl	+0.17
Apr 28, 2026	Aleš Michl: A central bank. And bitcoin. Ales Michl	+0.17
Jun 10, 2025	Aleš Michl: Remarks on euro adoption Ales Michl	+0.07
Apr 29, 2025	Aleš Michl: Imagine a world where algorithms and technology assist us, but our values keep us firmly grounded Ales Michl	−0.09
Apr 1, 2025	Eva Zamrazilová: The role of macroeconomic models in the forecasting process - survey results Eva Zamrazilová	+0.01
Apr 1, 2025	Jan Frait: Monetary policy analysis at the crossroads - insights from central banks' reviews Jan Frait	−0.06
Dec 17, 2024	Jan Frait: Twenty years of financial stability at the Czech National Bank Jan Frait	–
Dec 4, 2024	Jan Frait: Monetary policy, the "Great Macrofinancial Volatility" and the response of monetary theory in the first quarter of the 21st century Jan Frait	−0.17
Nov 14, 2024	Aleš Michl: Remarks - 2024 Mexico City conference Ales Michl	−0.01
Sep 26, 2024	Aleš Michl: Inflation expectations of households Ales Michl	+0.16
Sep 10, 2024	Jan Frait: A "new normal", or a continued "great macrofinancial volatility"? Jan Frait	−0.02
Jul 25, 2024	Aleš Michl: Current fight against inflation, the course of the liquidation of Sberbank and the financial performance of the Czech National Bank Ales Michl	+0.30
Jun 13, 2024	Aleš Michl: Taming inflation from 18 to 2% and paving the way for ESG financing Ales Michl	+0.11
Apr 23, 2024	Aleš Michl: The target Ales Michl	+0.17
Sep 17, 2023	Aleš Michl: The road to the target Ales Michl	+0.13
Aug 26, 2023	Aleš Michl: Notes from the 2023 Jackson Hole Symposium Ales Michl	+0.01
Jul 27, 2023	Aleš Michl: The current level of inflation still makes it impossible to lower interest rates Ales Michl	+0.12
Jun 15, 2023	Aleš Michl: The road to the target II Ales Michl	+0.00
May 15, 2023	Aleš Michl: The road to the target Ales Michl	−0.02
Mar 17, 2023	Jan Frait: Monetary macroeconomics and central banks in turbulent times Jan Frait	+0.06
Nov 23, 2022	Aleš Michl: Policy for a strong koruna Ales Michl	+0.03
Jun 16, 2019	Jiří Rusnok: The future of monetary policy - what can we see as the dust has settled? Jiří Rusnok	−0.08
Sep 20, 2018	Jiří Rusnok: Currency, taxes and other institutes of financial law Jiří Rusnok	+0.06
Sep 4, 2018	Mojmír Hampl: Is the euro zone still an attractive target for countries outside the euro? A view from the Czech Republic Mojmír Hampl	−0.07
Jun 1, 2018	Mojmír Hampl: Central bank independence in practice - the case of the Czech Republic Mojmír Hampl	+0.05
May 21, 2018	Mojmír Hampl: To be or not to be in the eurozone? An answer from Prague Mojmír Hampl	−0.06
Apr 10, 2018	Mojmír Hampl: Examining the resilience of emerging markets Mojmír Hampl	−0.07
Feb 27, 2018	Mojmír Hampl: A digital currency useful for central banks? Mojmír Hampl	−0.12
Jan 30, 2018	Mojmír Hampl: Outlook for global interest rates Mojmír Hampl	−0.30
Jul 11, 2017	Mojmír Hampl: Central banks, digital currencies and monetary policy in times of elastic money Mojmír Hampl	−0.02
Nov 13, 2016	Mojmír Hampl: Life outside the Eurozone Mojmír Hampl	−0.21
Oct 25, 2016	Mojmír Hampl: Monetary policy and the current macroeconomic environment in the developed world Mojmír Hampl	−0.15
Oct 14, 2016	Mojmír Hampl: An uncertain world Mojmír Hampl	+0.35
Oct 4, 2016	Jiří Rusnok: Basel Consultative Group Meeting - welcome speech Jiří Rusnok	−0.18
Jun 7, 2016	Mojmír Hampl: The trilemma of the banking sector Mojmír Hampl	−0.29
Oct 1, 2015	Miroslav Singer: European Supervisor Education Initiative "Financial supervision in Europe - on the right track?" Miroslav Singer	−0.14
Oct 11, 2014	Miroslav Singer: Czech central bank head sees lowered risk of deflation - interview in The Wall Street Journal Miroslav Singer	−0.18
May 21, 2014	Mojmír Hampl: Theory lagging behind practice Mojmír Hampl	+0.05
Oct 12, 2013	Miroslav Singer: Central Bank Governor of the Year for Emerging Europe 2013 Miroslav Singer	−0.10
Aug 26, 2013	Miroslav Singer: Regulatory earthquake Miroslav Singer	+0.14
Apr 5, 2013	Mojmír Hampl: Should non-euro area countries welcome the banking union? Mojmír Hampl	–
Nov 14, 2012	Mojmír Hampl: Czechs and Austrians - even closer than they appear Mojmír Hampl	–
Sep 4, 2012	Mojmír Hampl: The euro - the case of the European monetary integration project and its former hegemon Mojmír Hampl	−0.33
Jun 26, 2012	Miroslav Singer: The role of creditors and debtors in the world economy Miroslav Singer	−0.24
May 15, 2012	Mojmír Hampl: The EU banking industry Mojmír Hampl	−0.25
Jan 23, 2012	Miroslav Singer: Sovereign debt crisis in Europe - assessing the current European instruments - addressing the challenges ahead Miroslav Singer	−0.19
Sep 2, 2011	Mojmír Hampl: States as debtors Mojmír Hampl	−0.14
Jun 28, 2011	Miroslav Singer: The Czech Republic outside EMU - a success story born from painful lessons. A Czech view on resolving the euro crisis Miroslav Singer	−0.17
Feb 18, 2010	Zdenek Tuma: Forecasting at the Czech National Bank Zdeněk Tůma	+0.03
Nov 20, 2009	Mojmir Hampl: European integration - a critical economist's view Mojmír Hampl	+0.04
Sep 14, 2009	Zdenek Tuma: Statistics - investment in the future Zdeněk Tůma	−0.22
Feb 12, 2009	Zdeněk Tůma: Frontiers of monetary policy Zdeněk Tůma	−0.15
Dec 2, 2008	Mojmír Hampl: Financial strangulation? Mojmír Hampl	+0.02
Jun 20, 2008	Zdenik Tuma: Education as investment in human capital Zdeněk Tůma	+0.25
Feb 22, 2007	Zdenek Tuma: The exchange rate forecast Zdeněk Tůma	−0.09
Jan 14, 2007	Zdenek Tuma: Europe's club of nations needs a rule change Zdeněk Tůma	+0.10
Jun 1, 2006	Zdenik Tuma: Consolidation before expansion Zdeněk Tůma	–
May 22, 2006	Zdenik Tuma: The role of the EBRD in the transition process towards fully fledged market economies Zdeněk Tůma	–
May 5, 2006	Zdenik Tuma: The forecasting process from the perspective of a new EU member Zdeněk Tůma	+0.10
Dec 2, 2005	Zdenik Tuma: Monetary policy governance - comments on the institutional set-up of inflation targeting in Albania Zdeněk Tůma	+0.06

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.