The central bank intervened on the foreign exchange market, spending an estimated 300 million euro to weaken the Slovak crown by about 1 per cent to 41.6 against the euro. A senior bank official said the move had been triggered by an “alarming” trade deficit, and that the bank might cut interest rates if monetary interventions did not bring the desired result.
Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
13. Nov 2002 at 10:43