Money markets turning

THE NATIONAL Bank of Slovakia (NBS) held its regular two-week sterilization repo tender last week. Demand in the tender reached Sk26.5 billion, of which the NBS accepted Sk23 billion at 7.74 per cent on average. VÚB dealer Rastislav Haban said that high demand indicates a turn of events on the money market with banks starting to get rid of excess liquidity. High demand in the government bond auction on Monday, January 14, attests to this too, he said. Commercial banks deposited Sk27.27 billion on their reserve accounts in the central bank, meeting the minimum reserve requirement on a cumulative basis at 108.69 per cent on Tuesday, January 15.

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