Slovakia rates to keep up with the ECB

The National Bank of Slovakia (NBS) on Tuesday decided, at an irregular monetary meeting, to cut its key rate by half a point to 3.25%.

The bank board was unanimous in backing the rate cut, which brings the cost of borrowing in line with that of the eurozone. The ECB cut its policy rate by a quarter point last Thursday. Analysts however expected the Slovak central bank to lower its key rate later in the month.

"[The bank board] decided to follow the last-week decrease in interest rates by the

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