Monetary Policy Executive Board

The decisions on the monetary policy are made by the Executive Board, as a collective decision-making body, established by the amendments to the Law on the National Bank of 10 April 2024. The Executive Board is constituted of the executive members of the National Bank Council, i.e. the Governor, as a Chairman and the three Vice Governors.

The establishment of the Executive Board abolishes the Operational Monetary Policy Committee, which was the working body established by the National Bank Council and within which the Governor and the Vice Governors were members with the right to vote and decided on the proposals for the setup and operational implementation of monetary policy. For more information on the operations of the Operational Monetary Policy Committee, as well as the press releases and archive of the meetings are available at the link.

The dynamics of holding the meetings of the Executive Board where monetary policy decisions are made, is determined by the Calendar, which is harmonized with the beginning of the reserve requirement fulfillment periods. The National Bank reports on monetary policy decisions through press releases.

Indicative Calendar of the meetings of the Executive Board where monetary policy decisions are made