PRAGUE. APRIL 24. INTERFAX C.N
TRAL EUROPE - The Slovak National Bank (NBS) lowered the country's basic interest rate by 25 basis points (bp) - for the second month in a row - to 4.25%, in line with market expectations, the NBS announced Tuesday.
"The NBS Board has evaluated the March economic situation report and decided to change the interest rates," NBS spokeswoman Jana Kovacova told a telephone news conference.
The sterilization rate will be change to 2.25%, the refinancing rate to 5.75% and the two-week repo rate will move to 4.25% as of April 25, Kovacova added.
Analysts had expected the decrease due to a sharp appreciation of the Slovak crown over the past week.
"In line with most of the market we expect another lowering of the rates mainly due to a strong crown," Slovenska sporitelna analyst Maria Valachyova.
The NBS last changed interest rates in a previous month, lowering them by 25 bp.