May 27
Slovakia: NBS keeps interest rates unchanged as expected
As expected the Slovak central bank today kept its key policy rate unchanged at 4.25%. It is now (nearly 100%) clear that Slovakia will join the euro area from January 2009, which means that the Slovak central bank (NBS) will have to bring interest rates down to the level of the ECB at 4.00%. The reason why the NBS did not cut rates today is probably that it is waiting for the final decision from EUÂ’s economics and finance ministers confirming the EU commissionÂ’s recommendation to invite
