Analysts believe the Central Bank will not change rates this year

Market analysts believe that despite recent statements on potential tightening of its monetary policy, the National Bank of Slovakia should not change interest rates this year. An analyst with Postova Banka said that the central bank has so far approached a change of rates primarily to respond to an inappropriate appreciation of the Slovak currency towards the euro, when it lowered rates. "At present the situation is reversed and the Slovak crown weakens mainly due to strong pressure from the Polish zloty. The exchange rate of Slovak crown as a factor decisive for interest rate change thus partly lost its relevance," stated the anylist