Spectator on facebook

Spectator on facebook

ECONOMIC BRIEFS

Central bank says reserves fall not to affect policy

The Slovak central bank on February 26 said its foreign exchange reserves dipped in the week to February 24 but that the fall would not affect monetary policy.

"The decline in foreign currency reserves of the banking sector has no impact on the currency and does not affect monetary policy of the central bank," the bank said in a statement.

Central bank reserves egded down to $2,903.2 million in the week to February 24 from $2,936.2 million on Feb 17, while those of commercial banks fell to $2,688.3 million from $3,242.9 million.

Slovakia's total reserves, including commercial bank reserves, fell to $5,591.5 million from $6,179.1 million, a drop of $587.6 million.

"This movement was related to the decision by the National Bank of Slovakia banking council to abolish the (required) foreign currency position of banks for monetary purposes," the bank said without elaborating.

The central bank said that some commercial banks had artificially increased their assets along with their liabilities to meet the foreign currency position coefficients required earlier by the central bank.

"After the abolishment (of required foreign currency position for monetary purposes), reserves of banks will settle down at its natural level," the bank said.

Top stories

Daughter to father: I’m going to kill you

Children are often manipulated against their parents while authorities decide about divorces and custody.

Who will stand up for journalists in Turkish prisons?

Journalists living in countries where politicians (for now) do not send people to prison for their opinions, who only sigh in relief that they are lucky this story does not concern them, are deeply mistaken.

Protesters in front of the court building.

Camping in a tree? Try it in Bratislava

A creaking wooden floor and the wind swaying the branches of trees around you. Have you ever wondered how it would feel to spend a night in a tree house?

The tree-house at Kačín

Bratislava’s main railway station is getting a face lift

The derelict station still has to wait for its complete rebuild though.

The main railway station in Bratislava.