In a bid to match the European Central Bank's interest rate before joining Eurozone in January 2009, the National Bank of Slovakia lowered its key interest rate by 50 basis points to 3.75%. Economists had expected the central bank to hold the rate at 4.25%.
Overnight refinancing rate lowered to 4.75% from 5.75%, while overnight sterilization rate hiked to 2.75% from 2.25%. The central bank said the new rates will be in effect from October 29.
However, ECB President Jean-Claude Trichet signaled Monday that the central bank is prepared to cut interest rates for second month in November, assuming that upcoming data on inflation indicates a further alleviation of the upside risks to price stability.
"I consider possible that the Governing Council would decrease interest rates once again at its next meeting on the 6th of November," said Trichet. "It is not a certainty. It is a possibility."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.