Meeting of the Governing Board of the Bank of Slovenia of 2 November 2010

1. The Governing Board of the Bank of Slovenia adopted the Resolution on the General Rules for Monetary Policy Implementation.
2. The Governing Board discussed the Overview of the Financial Accounts of Slovenia 2004 - 2009, which was prepared for individual institutional sectors with a presentation of financial assets and liabilities in terms of financial instruments of material significance to the financial sector; a comparison with the euro area financial accounts is also presented for the first time. The overview will be included and published in the report, entitled Financial Accounts of Slovenia 2004 - 2009.
3. The Governing Board discussed the current economic and financial trends, and approved the publication of the Economic and Financial Trends of October 2010, and Slovenia’s International Economic Relations of August 2010.
The Governing Board substantiates that the cost competitiveness of the Slovenian economy is trailing behind the cost competitiveness of its main economic partners, Germany, France, Austria and Italy. Faster growth in energy costs (gas, electricity) and services costs (water, municipal services) could have a significant impact on competitive pricing by exporters. The Governing Board draws attention to the importance of movements in prices that are not subject to market competition for the creation of the right macroeconomic conditions for the real sector of the economy and the preservation of disposable income for households.

4. The Governing Board of the Bank of Slovenia discussed the current operations of the banks, developments on the capital markets and developments in the area of interest rates.