Rationale behind the decision of the Bank Board of the NBS on the set levels of the NBS interest rates

The Bank Board of the NBS at its today´s 51st meeting (9 December 2008) decided on changing its interest rates and on their gradual harmonisation with the euro area interest rates.

The Bank Board of the NBS decided on changes in interest rates effective from 10 December 2008 as follows:

– the overnight sterilisation rate set at 1.50%,
– the overnight refinancing rate set at 3.50%,
– the limit rate for two-week repo tenders to 2.50%.

Regarding the decision on decreasing its interest rates, Narodna banka Slovenska anticipates a reflection of these new conditions to the interest rates in the financial market.

On 9 December 2008, the Bank Board of the NBS voted on the proposal to decrease the set levels of the NBS´s interest rates as follows: all 9 members present at the Bank Board meeting of the NBS voted for the proposal to decrease the set levels the interest rates.

Jana Kovacova
Spokesperson of the NBS

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, 421-2-5865 2166
Internet: http://www.nbs.sk

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