Teoretické problémy ústavního principu nezávislosti centrální banky

Central bank independence finds its limits in the Constitution of the Czech Republic of 1993, Art. 98, defining the objective of a central bank and a scope of its powers. A legal theory has established a list of features of central bank independence, distinguishing between features of an institutional, functional, personal, financial or budgetary nature. Central bank independence is required when exercising the powers and carrying out the tasks and duties conferred upon a central bank. Features of central bank independence should therefore be considered from that perspective. Such features should not be seen as a kind of legislation, going beyond the scope of the Constitution, but as tools to facilitate an assessment of the independence principle. Central bank independence is not a matter which can be expressed in arithmetical formulae or applied in a mechanical manner and the way in which it is achieved is therefore assessed on a case-by-case basis.