Slovenian and Slovak central bank board members meet in High Tatras
Members of the governing bodies of the Slovenian and Slovak central banks met in Starý Smokovec in the heart of Slovakia’s High Tatra Mountains on Friday, 27 May 2022. The first such board-to-board meeting between the Governing Board of Banka Slovenije and the Bank Board of Národná banka Slovenska provided a scenic opportunity to discuss current economic issues, monetary policy, financial sector stability and, last but not least, financial literacy and education.
The elevated inflation rate, energy prices, and the labour market situation were at the centre of the discussion on future expected prices increases. There was consensus on the causes of this development, namely the negative impact of the war in Ukraine and the ongoing post-pandemic economic recovery. These two factors are driving up prices for commodities, energy, and food across the euro area.
A second important issue was lending to the household and corporate sectors in the context of looming interest rate increases. Discussions dwelt on the effects of monetary policy tightening, the state of the financial sector, and risks for the future.
As for financial literacy, both central banks view it as a strategic priority and part of their social responsibility, even though their mandates do not require action in this area. Higher financial literacy not only protects consumers and family budgets, but also has a positive impact on the stability of the whole financial sector in the long term.
National Bank of Slovakia
Communications Section
Imricha Karvaša 1, 813 25 Bratislava
Contact: press@nbs.sk
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