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NBS announces it has no reason to change interest rates yet

The National Bank of Slovakia considers the latest economic and monetarydevelopment acceptable, which is why it sees no reason to change its key interest rates.

The National Bank of Slovakia considers the latest economic and monetary
development acceptable, which is why it sees no reason to change its key interest rates.

The NBS Bank Board, which decided to keep interest rates on hold, took its previous decision from mid-November into consideration, when it surprisingly cut interest rates, the SITA newswire wrote.

"Regarding the last decision of the NBS to cut interest rates, the base rate is similar to that in the eurozone," the board wrote.

Inflation developed in line with expectations, as it slowed under the influence of lower prices of food and motor fuels. The NBS was not surprised by the Statistics Office’s flash estimate of economic growth for the third quarter.

"Economic growth was slightly slower than in previous quarters, which is in line with NBS estimates and is related to the basic effect of the launch of production of motor vehicles last year. Despite this, the economy is still producing new jobs, as reflected by the growth of the employment rate," NBS governor Ivan Šramko said. 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.

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