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Slovak central bank keeps interest rates on hold

Tuesday, the Slovak central bank kept its interest rates unchanged for the eighth month in a row, in move to curb rising inflation.

The decision came in line with expectations. The National Bank of Slovakia maintained interest rate at 4.25%. Similarly, the overnight refinancing rate is held at 5.75% and overnight sterilization rate at 2.2%. Monday, the central bank noted that the harmonized index of consumer prices, or HICP, increased 2.3% on a year-on-year basis in November, above the central bank’s expectation. In October, the HICP gained 2.4%. Core inflation, which excludes volatile energy and unprocessed foodstuffs, reached the level of 2.6%, relative to 2.2% in October. (rttnews)