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BUSINESS SHORTS

Central bank keeps interest rates unchanged

THE NATIONAL Bank of Slovakia (NBS) bank board kept all key interest rates unchanged at its regular monthly monetary meeting on May 29. Their decision leaves the key two-week repo rate at 4.25 percent, while the overnight rates remain at 5.75 percent for refinancing operations and 2.25 percent for draining excess market liquidity, Jana Kováčová of NBS told the TASR news wire.

In March and April of this year, the central bank lowered interest rates twice after leaving them untouched since February 2005. In March, the key two-week repo rate and overnight rates for refinancing operations were reduced by 0.25 percentage points, while the rate for draining excess market liquidity was reduced by 0.75 percentage points. In April, all three rates were cut by 0.25 percentage points.

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