Barto: NBS might cut rates to 2 percent

MARTIN Barto, the deputy governor of the National Bank of Slovakia (NBS), says that the central bank could cut key interest rates to 2 percent, the level in the eurozone, should this year's inflation be lower than planned, the Pravda daily wrote.

Barto also expects that the value of the Slovak currency will remain under permanent pressure.

The NBS has been fighting the fast rising currency but has failed to slow down the trend. The crown hit a new high this week, reaching a level of 37.000 SKK/EUR.

On March 9, the crown also hit an all time high against the US dollar, reaching a level of 28.030 SKK/USD.

According to SME, the NBS is unhappy with the results of its interventions against the too strong crown.

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