Spectator on facebook

Spectator on facebook

Šramko: crown stable

The weakening of the Slovak crown, which went over the Sk34-per-euro threshold this week, isn’t making the Slovak central bank (NBS) nervous.

"It's a minor weakening, still not far away from the central parity," NBS governor Ivan Śramko said on September 25.

That's why the NBS sees the crown as comparatively stable over the past period.

"The changes are caused by external rather than internal factors. We assess it as a stable development, not a fundamental change," he explained.

Governor Šramko isn't concerned that the weakening of the Slovak currency could result in price increases. Just as no significant appreciation of the crown has been reflected in the development of inflation over the past year, he expects that if the crown weakens slightly, it will likewise have no major influence on inflation.

In its commentary on the decision not to adjust its key interest rates, the NBS bank board on Tuesday stated that during July and August, the exchange rate of the Slovak currency had continued its relatively stable development; while with the successive dying out of last year's basic effect caused by the summer depreciation, a slowing down of the year-on-year dynamics of appreciation was occurring. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness

Foreign rocket engines for North Korea: Why?

For Russia, the path to a weakened China could be through a major nuclear accident in North Korea.