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Central bank to straddle inflation and currency goals

In an interview with the Sme daily paper, central bank governor Marián Jusko said the bank would take care not to allow an increase in regulated prices next year to spark a general jump in core inflation, and would also evaluate whether to allow the Slovak crown to strengthen further.

The bank dropped key interest rates by 50 basis points in November to halt a surge in the crown, which despite the country’s current account balance deficit of 8 per cent of GDP was setting records against the euro, its reference currency.

Jusko said a major factor in the country’s macro-economic development next year would be the government’s commitment to greater fiscal discipline.

Finance Minister Ivan Mikloš has said the cabinet will make up for an expected Sk1.7 billion shortfall in budget income this year by drawing fewer loans for highway construction and freezing funds that ministries have not yet used.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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