National bank keeps interest rates unchanged

THE NATIONAL Bank of Slovakia will keep inter-bank interest rates unchanged, the bank board decided at its regular monthly session on May 26, according to news wire TASR.

In both March and April the bank cut rates by 50 basis points in response to the strengthening of the Slovak crown. As a result, the two-week-repossession tender now has a limit rate of 5 percent, while one-day refinancing operations carry 6.5 percent, and one-day sterilisation operations carry 3.5 percent.

The decision was expected, said Marek Gábriš, an analyst with ČSOB bank. He sees the Slovak economy heading toward further rate cuts by the end of the year. "Favourable inflation development is expected in August, and good foreign trade results should last until September," he added.

Get daily Slovak news directly to your inbox

Top stories

Another former police president reportedly charged in a corruption case

NAKA charged eight former high-ranking police, SIS and Financial Administration officials.

Milan Lučanský

Matovič could have made comments about the US rather than Mongolia

I am proud of what has been achieved in Slovakia, says Billy Altansukh.

Older children will not return to schools before Christmas

PM Igor Matovič still wants some pupils to return, he proposed a pilot testing plan.

The school in Trebišov.

Economy minister Sulík is the most trustworthy politician regarding solutions to the pandemic

More than half of respondents also think that the government underestimated preparation for the second wave.

Richard Sulík introduces his plan.