IN SHORT

Central bank cuts key rates

THE NATIONAL bank of Slovakia (NBS) decided to cut key interest rates as of March 1 in an effort to fight the strong crown.

Based on the NBS decision, two-week repo tenders were cut by 1 percent to 3 percent; overnight refinancing operations by 1.5 percent to 4 percent; and overnight sterilization operations by 0.5 percent to 2 percent, the TASR news agency reported.

The sharp firming of the Slovak crown would threaten Slovakia's target inflation as well as disturb the country's current economic stability, said the NBS governor, Ivan Šramko.

The governor says that the NBS is ready to use available tools to reverse any undesirable developments in the currency-rate sphere.

The central bank has been fighting the crown's firming on the market for four weeks and has directly intervened several times.

Get daily Slovak news directly to your inbox

Top stories

People with negative tests can go to hairdresser or outdoor terraces

Those with a negative test result will have to follow rules introduced on October 15.

Companies fear drop in demand for their products and services the most

International chambers of commerce asked companies about their current situation as well as expectations.

Companies implemented anti-coronavirus measures.

News digest: The Gale targets corruption, cabinet officially prolongs curfew

Slovakia learned about biggest corporate taxpayers, the president signed laws changing the minimum wage and 13th pensions. Read the latest news overview.

Mobile testing units were built in the Hviezdoslavovo Square in Bratislava.

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov