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The role of the NBS

The role of the National Bank of Slovakia, as a member of the Eurosystem, is to participate in the common monetary policy in the euro area that is determined by the European Central Bank (ECB). The Governor of the National Bank of Slovakia is a member of the Governing Council, the ECB’s decision-making body, which is responsible for formulating monetary policy for the euro area as a whole. According to the Treaty establishing the European Community, the primary objective of the single monetary policy is to maintain price stability, which contributes to a favourable economic environment and creates the conditions for higher employment and sustainable economic growth over the medium term.