Slovakia cuts rates in line with ECB

The National Bank of Slovakia shifted its policy rate for the first time in 17 months on Tuesday, cutting by half a point to 3.75% - on par with the European Central Bank's (ECB) benchmark borrowing cost.

Some analysts predicted the move, though a significant number expected no change or a smaller cut. However, Ivan Sramko, the governor of the central bank, said all nine board members backed the move.

The central bank said the decision reflected the likelihood that the global credit crunch wou

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