At its session today, the Council of the Croatian National Bank examined recent economic and monetary developments and a report on the operation of the Croatian Mint in 2017, and adopted the Semi-annual Information on the Financial Condition, the Degree of Price Stability Achieved and the Implementation of Monetary Policy for the second half of 2017. The Council also adopted several decisions on matters falling within its competence.

The first half of 2018 saw a very small growth in real GDP from the end of the previous year, and monthly statistical indicators for the beginning of the second quarter point to an acceleration in economic activity. The beginning of the second quarter was marked by further employment growth and a decrease in the number of unemployed persons. The annual consumer price inflation rate accelerated from 1.1% in March to 1.3% in April, mostly due to a petroleum products price hike. The CNB continued to pursue an expansionary monetary policy, maintaining very high levels of liquidity in the domestic financial market. The growth in credit institutions' placements continued to accelerate, with their annual growth rate rising to 3.2%, while the interest rates on newly-granted loans generally held steady. The growth in the net external debt of the domestic sectors was similar to that seen in the same period of the previous year.

At its session, the Council also approved several supervisory boards' decisions on reappointments or appointments of new management board members. In accordance with these decisions, Danijel Luković will be appointed as the President and Tadija Vrdoljak as a Member of the Management Board of Croatia banka d.d., Zagreb, Slađana Jagar will be reappointed as a Member of the Management Board of Erste&Steiermärkische Bank d.d., Rijeka, and Feyza Önen will be appointed as a Member of the Management Board of Kentbank d.d., Zagreb.

Pursuant to a decision adopted by the Council, a 200 kuna commemorative silver coin "Dubrovnik" to be issued by the Croatian National Bank, will be available for sale from 9 July 2018.