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Monetary policy

The National Bank of Slovakia is the euro area member since 1 January 2009. In cooperation with the European Central Bank and central banks of the other member states aims to maintain primary objective of the monetary policy which is price stability in euro area. Maintaining price stability is the most important form how the monetary policy can contribute to the favorable economic environment and full employment.

With regard to achieving primary objective of the monetary policy numerous analyses are published. NBS publishes analyses of the euro area and global economy as well as analyses, projections and comments on the Slovak economy.

The National Bank of Slovakia publishes Monthly Bulletin of the NBS, quarterly Medium Term Forecast, Slovak Economy Report and Report on the International Economy. Several times in a month analysts of the NBS publish Comments on economic developments (available only in Slovak language). The NBS also publishes Macroeconomic Database.

Monthly Bulletin

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Medium Term Forecast

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Comments on economic developments

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Slovak Economy Report

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Governing Council decisions

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Macroeconomic Database

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Monthly bulletin NBS analyzes the economic developments of Slovak Republic based on monthly data about inflation (consumer prices), real economy (revenues, industrial production, leading indicators, foreign trade) and the labor market (employment, unemployment, wages). It contains the time series data of selected indicators of the economic developments of Slovak Republic, euro area and neighboring countries published in a separate Excel file.

Medium term forecast of the macroeconomic developments is based on the assumptions about external environment and it contains predictions of inflation, GDP and its components, labor market and balance of payment in the medium term (current year and two following years). Prediction may serve as a good analytical tool that provides a complex view of recent and future economic developments of Slovak Republic.

Flash commentaries offer up-to-date information and brief analysis immediately after the publication of selected macroeconomic indicators (e.g. about property prices, national accounts or international economy). Analytical commentaries are focused on the recent topics, respectively represents a non-technical analysis summarizing the results of a published research paper. All commentaries are published as experts ‘views that do not have to necessarily comply with the official view of NBS.  

Report on the international economy contains brief assessment of the economic developments of the given quarter in the global economy, in commodity prices as well as evaluation of the economic developments in the United States, euro area and V3 countries (Czech Republic, Hungary and Poland). Slovak Economy Report presents quarterly detailed analyses of the economy; taking into account latest published data for GDP structure, household finance, wages, labor productivity, employment, unemployment and financial condition and irregularly elaborates on current economic issues.

Macroeconomic Database consists of eight sections according to widely used macroeconomic indicators: inflation, GDP, labor market, public sector, balance of payment, external environment, monthly indicators and financial market. Timer series are available and can be searched either throughout tree structure or data filter. Database also provides graphical presentation of the data.