World’s best governor Aleš Michl receives award for extraordinary effort, courage and independence

Czech National Bank Governor Aleš Michl received the prestigious international Central Banking Award 2025 for world’s best governor at a ceremony in London on Wednesday. He was recognised for his extraordinary determination to reduce inflation and safeguard the value of money in the Czech Republic, as well as for his forward-looking and innovative approach to the issues currently shaping the global financial landscape. This is already the second major international accolade the Governor has received this year – in January, The Banker magazine, published by the Financial Times, named him Central Banker of the Year for Europe.

Governor Aleš Michl received the award at the international Central Banking Summer Meetings, held in London on 11–12 June, with the participation of central bankers from around the world.  The conference is organised annually by the renowned Central Banking magazine.

“I don’t see this award as mine alone. It is recognition for the entire CNB team. From the very beginning, our main goal was to bring inflation back to 2% and restore people’s confidence in the koruna. That would not have been possible without the courage to make unpopular, yet correct, decisions. That’s what central banking is about – independence, discipline and responsibility to the people who save and work,” said CNB Governor Aleš Michl.

The jury particularly highlighted the extraordinary efforts of CNB Governor Aleš Michl in the fight against inflation. Thanks to the strategy adopted by the Bank Board under his leadership, the Czech Republic was among the first countries to bring exceptionally high inflation back to target. Inflation fell from 17.5% in July 2022 to exactly 2% in February, March and June 2024. The full-year average was 2.4% – the lowest since 2018. According to estimates, inflation is expected to remain at a similar level this year as well. Low, stable and predictable inflation is one of the prerequisites for long-term sustainable economic growth.

However, the jury evaluated more than just price stability. It also praised the efforts of the central bank under Aleš Michl’s leadership in managing the international reserves and implementing measures to improve the efficiency of the institution’s operations. The jury also commended the CNB’s active role in the successful resolution of the insolvency of Sberbank CZ, as well as its support for the instant payment system operated by the central bank. The growing availability of fast, secure and low-cost interbank transfers supports the digital development of the economy and makes everyday life and business easier. It also reinforces the CNB’s position as a leader in the modernisation of the country’s financial infrastructure.

Jakub Holas
Director, CNB Communications Division