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Slovakia: NBS aligns rates with ECB − cuts by 50bp
Tue, Nov 11 2008, 13:07 GMT
by Lars Christensen
The Slovak central bank today announced that it has cut its key policy rate by 50bp to 3.25%. The rate decision was unscheduled, and brings Slovak interest rates into line with the ECB's key policy rate.
While the timing of the cut is a bit surprising, it should be no surprise to the markets that the NBS would sooner or later have to align its key policy rate with the ECB rate given that Slovakia looks set to join the euro area on 1 January 2009.
Published on Tue, Nov 11 2008, 13:11 GMT
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