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BUSINESS BRIEFS

Central bank lowers key interest rates

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.

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