ECONOMIC BRIEFS

Central bank: No loosening of monetary policy soon

The Slovak central bank said on April 29 it saw no room to loosen monetary policy and may have to tighten it further if it saw no improvement in fiscal and trade deficits. "We see no further room for easing monetary policy... in terms of further declines in interest rates and increases in monetary macro agregates," central bank governor Vladimír Masár told reporters.

"Until a more significant reversal in the development of public finances is obtained with a positive effect on foreign trade, the central bank will pursue a more conservative and restrictive monetary policy," the NBS governor continued. "We expect that further government measures will result in lowering the fiscal and budgetary deficits."

Masár said last week the central bank saw no reversal in the development of public finances and foreign trade. The Slovak government has pledged to reduce the state budget deficit to two percent of gross domestic product from the current five percent.

Get daily Slovak news directly to your inbox

Top stories

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.

Fico admits to ties with Bödör

Former prime minister stands by his praise for the state secretary who confessed to corruption and court interference.

Robert Fico during his November 26 press conference.