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Central bank keeps key rates on hold

AT a MEETING of its Bank Board on January 30, the central bank decided to leave key interest rates unchanged.

NBS spokesman Igor Barat informed the SITA news wire that the one-day sterilization repo rate was to remain at 3.25% and the one-day refinancing rate at 6.25%. The two-week sterilization repo-rate holds at 4.75%.

The central bank raised interest rates four times last year in its efforts to combat inflation ahead of Slovakia’s expected entry to the euro-zone in 2009.

In February and May the increase was 50 basis points, while in July the bank raised the two-week sterilization repo-rate by 50 points and the one-day refinancing repo-rate by 100 points, leaving the one-day sterilization repo rate unchanged. In September the central bank increased rates by 25 basis points.

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