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Monetary policy

Národná banka Slovenska (NBS) joined the Eurosystem on 1 January 2009. Comprising the European Central Bank (ECB) and the national central banks of euro area countries, the Eurosystem is the monetary authority of the euro area and its primary objective is to maintain price stability. Ensuring price stability is the most important way in which monetary policy can support the objectives of a favourable economic environment and full employment.

In connection with its primary role, NBS publishes analyses about euro area and global economic developments, and analyses, forecasts and commentaries about economic developments in Slovakia. 

Each quarter NBS publishes a report entitled Economic and Monetary Developments, which assesses current developments and provides economic projections for the medium term. The first part of this report analyses the present state of the Slovak economy using quarterly and monthly data on inflation (consumer prices), the real economy (GDP, sales, industrial production, leading indicators, foreign trade), and the labour market (employment, unemployment, wages). This part also includes analyses on current topics and an assessment of business sentiment. A separate chapter is devoted to monetary conditions in Slovakia. The report's medium-term forecast of macroeconomic developments is based on assumptions for external environment developments and includes projections for inflation, GDP and its components, the labour market, and the balance of payments over the medium-term period (covering the current year and the next two years).

Rýchle komentáre (Flash Commentaries - in Slovak only) provide current information and brief analyses immediately after the publication of selected macroeconomic indicators (e.g. property price indicators, national accounts indicators, and international economy indicators). 

Analytické komentáre (Analytical Commentaries - in Slovak only) are brief non-technical analyses that summarise the results of research on selected current topics. All of these publications present expert views that do not necessarily represent the views of Národná banka Slovenska.

Structural Challenges is a report that monitors Slovakia's progress in catching-up with the standard of living in more advanced economies, reviews the competitiveness of the Slovak economy, and identifies the economy's most serious structural challenges. Special editions will provide a more in-depth look at selected areas that reflect the economy's current structural issues.

The Macroeconomic Database is divided into eight areas of macroeconomic indicators: inflation, GDP, labour market, public sector, balance of payments, external environment, monthly indicators, and financial market. The database is navigable via either a tree structure or data filter, and includes data in graphical form. The time series are user selectable.

Mailing list: If you wish to be kept up to date about the publication of the flash and analytical commentaries and other publications, you can sign up to the NBS mailing list.

Notice:
NBS discontinued the Monthly Bulletin and the quarterly Medium-Term Forecast after the publication of their December 2020 editions.
From March 2021 NBS publish a quarterly report entitled Economic and Monetary Developments, which include a medium-term forecast.
Since 1 January 2020 are Reports on the International Economy and Slovak Economy not produced.

Economic and Monetary Developments

Economic and Monetary Developments

Structural Challenges

Structural Challenges

Rýchle a analytické komentáre (Flash and Analytical Commentaries – in Slovak only)

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Monetary Policy Decisions

Governing Council decisions

Macroeconomic Database

Macroeconomic Database