UPDATE 1-Slovak cbanker says SKK to follow region til euro

22.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

(adds quote, background)

BRATISLAVA, Nov 22 (Reuters) - The Slovak crown will be influenced mainly by developments on neighbouring markets until there are clear signals that euro adoption will take place as planned in 2009, central bank Governor Ivan Sramko said on Wednesday.

The crown has firmed by around 3 percent against the euro in recent weeks as investors boosted their central European holdings and the release of data last week showing robust 9.8 percent GDP growth for the third quarter.

"The real separation of the crown from the region will happen when there are clear signals from the external environment that Slovakia will fulfil all conditions and will adopt the euro according to the schedule," Sramko told a financial conference.

"Until then, we expect a very strong influence from the region."

The crown is now trading 7.8 percent above its central parity within the Exchange Rate Mechanism 2 (ERM 2), which Slovakia joined in late November 2005.

Slovakia faces a key challenge to keep inflation and the fiscal deficit in line with euro adoption criteria.

The crown an all-time high of 35.495 to the euro on Tuesday.

((Reporting by Peter Laca, Writing by Alan Crosby; Reuters Messaging: peter.laca.reuters.com@reuters.net; +421 5341 8402))

Keywords: ECONOMY SLOVAKIA SRAMKO

Autor článku

 

Články ze sekce: Zpravodajství ČTK