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No cheaper mortgages, no euro soon: What Czech policy means for your money

CNB head Aleš Michl says cheaper mortgages and euro adoption may have to wait, as Czechia weighs inflation risks and control over its own currency.

Expats.cz Staff

Written by Expats.cz Staff Published on 28.07.2026 16:17:00 (updated on 28.07.2026) Reading time: 4 minutes

Business & Money
Shutterstock by BalkansCat
Shutterstock by BalkansCat

Czech households hoping for cheaper mortgages may have to wait. Aleš Michl, governor of the Czech National Bank, has pushed back against calls for lower interest rates, warning that cutting borrowing costs too quickly could risk reigniting inflation.

In an interview with the Financial Times, Michl also rejected calls for faster euro adoption, arguing that Czechia is not yet economically ready to give up the koruna. He said the central bank must remain independent from political pressure as leaders debate the country’s economic direction.

#business #czech economy #economy #Finance #For members #Money Matters
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