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Central Bank leaves key interest rates unchanged at 4.25 percent

The Slovak central bank (NBS) decided to keep all key interest rates unchanged on June 24, Jana Kováčová from the NBS told the TASR newswire.

The Slovak central bank (NBS) decided to keep all key interest rates unchanged on June 24, Jana Kováčová from the NBS told the TASR newswire.

This means that key interest rates in Slovakia haven't changed for 14 consecutive months. The decision left the key two-week repo rate at 4.25 percent, while the overnight rates remained at 5.75 percent for refinancing operations and at 2.25 percent for draining excess market liquidity.

The NBS rates and those at the European Central Bank (ECB) have to be unified before Slovakia joins the eurozone on January 1, 2009. The rates currently differ by 0.25 percentage points.

Until recently, analysts assumed that the NBS would lower its rates, but the latest statements by ECB representatives imply that it could raise its rates instead. TASR

Compiled by Zuzana Vilikovská from press reports
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