The Czech National Bank has approved changes to the organisational structure of its Monetary Department, effective from 1 February 2026, to align the department with its macroeconomic analysis and forecasting mission and in connection with the ongoing external review of the CNB’s monetary policy framework. The CNB Bank Board approved the reorganisation at its meeting on 11 December 2025. The External Economic Relations Division will be abolished, with its activities split between the Monetary Policy and Fiscal Analyses Division and the Macroeconomic Forecasting Division. Analysis and forecasting of external developments will move to the Macroeconomic Forecasting Division, while balance of payments analysis will fall under the Monetary Policy and Fiscal Analyses Division. An independent International Organisations Unit will also be established and will report directly to the management of the Monetary Department to support coordination with international institutions and partners. The changes are framed as part of implementing recommendations from the CNB’s first external review of monetary policy, launched following recent shocks including the Covid-19 pandemic and the subsequent energy crisis. Luboš Komárek, previously Director of the External Economic Relations Division, left the CNB on 27 January 2026 after being elected to the Czech Fiscal Council.
Czech National Bank 2026-01-30
Czech National Bank restructures its Monetary Department, abolishing the External Economic Relations Division and creating an International Organisations Unit
The Czech National Bank will reorganize its Monetary Department, effective 1 February 2026, to better align with its macroeconomic analysis and forecasting mission. The External Economic Relations Division will be abolished, with its functions redistributed between the Monetary Policy and Fiscal Analyses Division and the Macroeconomic Forecasting Division. An independent International Organisations Unit will be established to enhance coordination with international partners.