THE NATIONAL Bank of Slovakia (NBS) has cut its key interest rate to 2.5 percent per annum. It thereby followed the decision of the European Central Bank (ECB), which cut its rates during the first week in December. The Slovak central bank reduced the rate for two-week sterilization repo tenders by 75 basis points, the SITA newswire wrote.
The NBS at its bank board meeting on December 9 also decided to cut the overnight refinancing interest rate from 4.25 percent to 3.5 percent and the overnight sterilization rate from 2.25 percent to 1.5 percent. The changes came into effect on December 10.
