Central Banking in the Rule of Law Context in the Czech Republic

The goal of the paper is to define the issue of central banking in the rule of law context in the Czech Republic. The paper deals both with the legislative framework during the creation of Czechoslovak sovereign monetary policy after the year 1918 and legislative framework of modern central banking in the Czech Republic after the year 1993. It defines present status and legislative framework of central bank and offers an opinion on the future of central banking in relation to European System of Central Banks harmonization processes, future legislative framework and practical conduct of legally defined central banking functions.