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Constitutional act no. 448/2001 Coll.

Constitutional act no. 448/2001 Coll. is by far the shortest of the Constitution’s amendments. The only change was the replacement of the former definition of the main goal of the Czech National Bank (maintenance of monetary stability) by a new one (maintenance of price stability).

The amendment was adopted in order to bring the national law in conformity with the European Union law (now art. 119 para. 2 of the Treaty on the Functioning of the European Union) that stipulates maintenance of price stability as a primary objective of EU’s economic policy. The Act on the Czech National Bank, n. 6/1993 Coll. was similarly amended by act n. 442/2000 Coll. However, the relevant part of this amendment was meanwhile struck down by the Constitutional Court, because it defined the primary objective of the CNB in a narrower way than the Constitution did. The Act on CNB was later amended again – this time in conformity with the Constitution (act. n. 127/2002 Coll.).