Central Bank Independence in Transition Economies

12B. Objectives, Formulation of Monetary Policy and Relations with 

other State Institutions 

Main objective of the NBS is the stability of the national currency (Art. 2). The 

Bank supports Government economic policy within the limit set by the Bank status 

(Art. 12). The monetary policy and its instruments are determined by the Board. The 

Government delegate can participate in the Board meetings in an advisory role (Art. 

12). The Bank, in turn, conducts an advisory role to the Government on banking and 

monetary issues. The NBS Governor participates in the Government meetings (Art. 

13). The National Bank of Slovakia presents to the Parliament a half-yearly report on 

monetary development (Art. 3).