Spectator on facebook

Spectator on facebook

Central Bank cuts key interest rate by 50 basis points

The National Bank of Slovakia (NBS) again decided to cut its key interest rate from November 12. It thus continues to copy the steps taken by the European Central Bank, which decided upon a further interest rate cut last week. According to an unscheduled decision by the NBS Bank Board, the two-week sterilization repo rate will thus drop by 50 basis points to the level of the key interest rate in the eurozone, i.e. 3.25 percent p.a. The NBS also decided to change interest rates on one-day transactions with the central bank. The one-day refinancing rate will decrease from 4.75 percent p.a. to 4.25 percent p.a., while the one-day sterilisation repo rate will decrease from 2.75 percent p.a. to 2.25 percent p.a. Analysts had expected this step following the NBS Bank Board meeting on November 25.

The National Bank of Slovakia (NBS) again decided to cut its key interest rate from November 12. It thus continues to copy the steps taken by the European Central Bank, which decided upon a further interest rate cut last week. According to an unscheduled decision by the NBS Bank Board, the two-week sterilization repo rate will thus drop by 50 basis points to the level of the key interest rate in the eurozone, i.e. 3.25 percent p.a. The NBS also decided to change interest rates on one-day transactions with the central bank. The one-day refinancing rate will decrease from 4.75 percent p.a. to 4.25 percent p.a., while the one-day sterilisation repo rate will decrease from 2.75 percent p.a. to 2.25 percent p.a. Analysts had expected this step following the NBS Bank Board meeting on November 25.

Slovakia's central bank's interest rate will have to be harmonised with the European one as of Slovakia's entry into the Eurozone from the beginning of next year. SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Blog: Are flying cars coming to the skies?

At least 19 companies, including a Slovak one, are currently developing flying car planes, but there are still many issues that must be worked out.

AeroMobil

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

The biggest antiquarian bookshop from Leopoldov is stored in Trnava Photo

The new year could bring a new cultural centre in antiquarian bookshop.

Archive photo