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

The Nord Stream 2 pipeline is installed in Swedish waters.

US and Germany made a declaration on Nord Stream 2. Where does it leave Slovakia?

Slovakia’s official position to Nord Stream 2 has gone from slightly critical to silent, analyst says.


12 h
Border checks

Rules for cross-border workers and teenagers remain unchanged

Constitutional Court corrected its decision from earlier this week.


15 h
The open-air exhibition about the Old Market Hall

Rare historical photos uncover the story of Bratislava's Old Market Hall

Bratislava owes its rich market history to its location on the crossroads of ancient trade routes.


29. júl
Bratislava

Adjustments on local level may make all the difference in coping with climate change

You can’t fix the problem if you don’t know what the problem is.


16 h