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Key interest rates left unchanged

THE NATIONAL Bank of Slovakia (NBS) board decided to keep interest rates unchanged at its Thursday session, Ivan Paska, head of the NBS press department told the TASR news agency.

The interest rate for overnight sterilization operations will stay at 2 percent, while the interest rate for overnight refinancing operations remains at 4 percent. The limited interest rate for two-week repo tenders is still 3 percent.

The NBS has changed key interest rates only once this year, lowering them in late February. That decision was influenced by a rapid firming of the national currency as well as the general situation on the foreign exchange market.

Last year, the rates were changed four times, when they were cut by 0.5 percent each time (in late March, April, June and November). The reason for these changes was also the sharp appreciation of the Slovak crown.

Compiled by Magdalena MacLeod from press reports
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