THE COUNTRY'S central bank, the National Bank of Slovakia (NBS) has lowered key interest rates by 0.25 percentage points, effective as of September 26.
The one-day sterilization repo rate dips from 5 percent p.a. to 4.75 percent p.a. and the one-day deposit rate falls from 8 percent p.a. to 7.75 percent p.a. Similarly, the two-week sterilization repo rate decreases from 6.5 percent p.a. to 6.25 percent p.a., reported news wire SITA.
Most financial analysts were surprised by the central bank's move since, based on a recent statement by bank representatives, they had not anticipated changes to the bank's monetary policy. However, most of them assume the NBS move will only have a marginal effect on Slovakia's economy.
The NBS's move pushed the crown down from 41.25/28 Sk/EUR to 41.28/32 Sk/EUR.
6. Oct 2003 at 0:00 | From press reports