Nezávislost centrální banky

Abstract

The aim of this paper was description of the monetary policies of central banks and a description of their independence. Central Bank declareses monetary policy, which affects inflation and exchange rate of the national currency against other currencies. To monetary policy central bank use a range of the instruments of monetary policy. For proper functioning of the central bank plays an important role in their independence from the government or other institutions, which should aim to influence their decisions on their own behalf. The independence of the Czech National Bank, the European Central Bank and the National Bank of Slovakia, was analyzed using two indices for independence. Highly independent central bank, the European Central Bank. The Czech National Bank has a high degree of independence. They are highly independent of the government. Economically independent are thanks to the legal ban on direct lending and the state of public finances. Deciding on the instruments of monetary policy is also their responsibility. The National Bank of Slovakia has a lower degree of independence as its economic independence is limited by the European Central Bank determines the discount rate and the membership of the National Bank of Slovakia in the Eurosystem, which comprises the Member States of the European Union, for their currency adopted the euro.