HNB is not allowed to take instructions from anyone

Autonomy is clearly stipulated in the law

While formally announcing her presidential nomination the other day, President Kolinda Grabar Kitarovic said that ‘Croatian central bank's monetary policy and the lending policy of banks can and must make a bigger contribution to the economy, population and central government of Croatia’. In this sense, she announced necessary measures that will be put forward in cooperation with experts. However, the head of state in Croatia actually has very little influence on the monetary policy and the policies of commercial banks and the central bank's autonomy is clearly stipulated in the law. A response that came from HNB to this statement reads that it is the only one responsible for the management of monetary policy and it is therefore the only one allowed to adopt its measures; moreover, as an independent and autonomous body, HNB is not allowed to take instructions from anyone.


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