Slovakia's Central Bank Governor Says Interest Rate Increase Was Necessary Step

Slovakia's central bank governor Peter Kažimír described the recent increase in interest rates as a necessary measure. Kažimír, who heads the National Bank of Slovakia, indicated that future monetary policy decisions will depend on how the country's economy develops in the coming period. The central bank's interest rate decisions are part of eurozone monetary policy coordination, as Slovakia adopted the euro in 2009 and follows European Central Bank guidance while maintaining some domestic policy flexibility.