The central bank's main monetary policy decision-making body, the Monetary Council, decides on the policy rate. As of 18 September 2018, the Monetary Council has decided that the central bank's policy instrument will be the minimum reserves.

The MNB pays the policy rate on the reserve requirement of credit institutions. In the event of under-reserving, the central bank charges credit institutions a penalty interest rate equal to twice the prevailing policy rate, and in the event of over-reserving, the interest rate is specified in the Announcement on the amount in excess of the minimum reserve.