Spectator on facebook

Spectator on facebook

BUSINESS SHORTS

Central bank keeps interest rates unchanged

THE NATIONAL Bank of Slovakia (NBS) kept all key interest rates unchanged at its regular monthly monetary meeting on June 26. The decision leaves the key two-week repo rate at 4.25 percent, while overnight rates remain at 5.75 percent for refinancing operations and 2.25 percent for draining excess market liquidity, the NBS told the SITA newswire. The decision to keep the rates steady for the second month in a row was in line with market expectations.

"The bank board considers the current monetary policy setting to be appropriate," NBS Governor Ivan Šramko told the press.

This step confirms the end of a short cycle of easing monetary policy, said NBS spokesperson Jana Kováčová. The bank board lowered interest rates in two consecutive months after having left 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.

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.

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.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).