Spectator on facebook

Spectator on facebook

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.

Top stories

Jaguar plant in Nitra will be bigger

The carmaker plans to add a new facility and employ more people.

Jaguar Land Rover plant near Nitra is under construction

Government members met at a distance

The session had only one point on its programme: the mandate for the prime minister to meet with the French president.

It’s not easy to be friends with Fico

Will Andrej Danko take the government down with him?

Andrej Danko

Bankers adjust to customers’ habits

More people will be coming to banks for advisory.