Spectator on facebook

Spectator on facebook

NBS keeps interest rates on hold

The board of directors at Slovakia's central bank (NBS) decided at its regular session on October 30 to leave key interest rates unchanged for the sixth consecutive month following cuts in March and April. The decision left two-week repo tenders at 4.25 percent, with overnight sterilisation operations at 2.25 percent and refinancing operations at 5.75 percent.

"Since the last NBS session a month earlier, the Slovak crown has firmed by some 2 percent, counterbalancing higher-than-expected inflation in September fuelled by higher food prices," said Slovenská Sporiteľňa analyst Mária Valachyová in reference to the central bank's decision.

This March, the monetary authority cut the rates for both the two-week repo tender and refinancing operations by 0.25 percentage points. The rate for sterilisation operations were lowered by 0.75 points in January. All three rates were cut by 0.25 percentage points in April.

Last year, the NBS raised its key rates by 0.5 percentage points in February, May and July in order to curb inflation. In another move in September that took the market by surprise, raising key rates by 0.25 points to bring the two-week repo rate to its highest level in recent years - 4.75 percent. 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

Slovak scientist in the US: Slovak science needs more than just money to thrive

It seems as if we do not want skilled scientists to return home, says Dominika Truban, who founded a platform connecting Slovak researchers abroad and at home.

Dominika Truban

The Education Ministry to restore the analytical institute

The institute that is part of the Value for Money initiative was merged with another body at the beginning of the year.

Education Minister Martina Lubyová

Blog: Helping others helps your company too

Tatiana Čaplová, Program Coordinator for CSR at the Pontis Foundation, offers a very interesting look behind the scenes of the most successful CSR event in Slovakia - Naše Mesto (Our City).

Bratislava