Měnová politika České národní banky v průběhu dvaceti let cílování inflace

The twentieth anniversary of inflation targeting regime in the Czech Republic provides a good opportunity to analyse and evaluate the monetary policy of the Czech National Bank over the period. In the past twenty years, the monetary policy has been connected to few significant events – the monetary crisis, the accession to the European Union, the financial crisis, the zero interest-rate period and, last but not least, the Czech National Bank’s foreign exchange market interventions. Based on theoretical and practical knowledge, this bachelor thesis creates an overview of important monetary policy decisions of the Czech National Bank, put them in context of that particular era and appraises their impact.