Jellei is right. You can also use this phrase talking about present:
Co za mecz! Co za dzień! = What a match! What a day! (note the lack of jest or to in this case)
This phrase is quite universal. Similarily to English, you can say Co za mecz! referring to the match you've watched before, you are watching right now, or you heard about it and you think it's going to be awesome. In fact it's the best way to translate that What a...! phrase.
Can "Co to był tamten hałas?" be also correct ?If I do understand the below mentioned explanations, "za" has a value of exclamation and could imply "too much noise". In this possible in this context to use "zbyt" instead of "za" and write "Co to był zbyt hałas?"... Thank you for your answer.