Spectator on facebook

Spectator on facebook

Banks slow to raise deposit interest rates

COMMERCIAL banks are too slow to translate changes in the National Bank of Slovakia’s key interest rates into the rates of interest they pay on client deposits, according to the central bank.

"The reality is that changes in the central bank’s monetary policy in the form of increases in key interest rates are reflected more significantly and more quickly in loan interest rates, while the rate of interest on deposits increases more slowly and not as much," said NBS spokesman Igor Barát for the Sme daily.

The central bank has increased its key interest rates four times this year by a total of 175 basis points to 4.75 percent.

Top stories

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Safari under High Tatras Video

Marek Stolarčík from Kežmarok filmed unique video.

Illustration stock photo

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.