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Slovak Ctrl Bker: Koruna Remains Key For Monetary Policy -2- Last week the Slovak Central Bank decided to keep its headline two-week repurchase agreement rate at 4.25%, having eased the rate cumulatively by 50 basis points in the previous two months. The bank justified the interest rate cuts by citing waning inflationary pressures. The bank officials said that lower interest rates would help stave off demand for the koruna as Slovak interest levels neared those set by the European Central Bank. Sramko also said that the latest gross domestic product data, released last week, confirmed that breakneck economic growth of 6% remains non-inflationary as it is mostly driven by exports. At its late June monetary policy meeting, the bank will closely evaluate the fluctuations in the koruna exchange rate. "We'll also look at inflation factors but the koruna rate is dominant," he said.
Slovak Ctrl Bker: Koruna Remains Key For Monetary Policy -2- Last week the Slovak Central Bank decided to keep its headline two-week repurchase agreement rate at 4.25%, having eased the rate cumulatively by 50 basis points in the previous two months. The bank justified the interest rate cuts by citing waning inflationary pressures. The bank officials said that lower interest rates would help stave off demand for the koruna as Slovak interest levels neared those set by the European Central Bank. Sramko also said that the latest gross domestic product data, released last week, confirmed that breakneck economic growth of 6% remains non-inflationary as it is mostly driven by exports. At its late June monetary policy meeting, the bank will closely evaluate the fluctuations in the koruna exchange rate. "We'll also look at inflation factors but the koruna rate is dominant," he said.
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