SLOVAKIA's central bank (NBS) has decided to cut key interest rates by 0.5 percent, their second decrease in a month’s time.
NBS governor Marián Jusko said that the excessive strengthening of the Slovak crown was behind the decision.
The Slovak crown has appreciated by more than 3 percent against the euro since the start of the year, which is more than through the whole of last year, the private news agency SITA wrote.
The crown recently hit a record, breaking the Sk40 per euro line. After the NBS decision to cut interest rates, the currency weakened by 0.30 haliers.
Compiled by Martina Pisárová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
29. Apr 2004 at 13:22