natgillin/translations-raw huggingface dataset:
In early 2007 and until 2 March 2007 these currencies -- excluding the Slovenian tolar that converted irrevocably to the euro following euro area enlargement on 1 January 2007 -- traded continuously at , or very close to , their central rates .
Od začetka leta pa do 2 . marca 2007 se je z njimi , razen slovenskega tolarja , ki se je dokončno konvertiral v euro , v skladu s širitvijo euroobmočja , se vedno trgovalo po ali zelo blizu njihovih centralnih paritet .
Only the Slovak koruna experienced a relatively high degree of volatility ( see Table 10 ) .
Samo slovaška krona je razmeroma močno nihala ( glej tabelo 10 ) .
Following parliamentary elections in Slovakia and a period of turbulence on international capital markets , the koruna came under downward pressure in the course of July and temporarily traded , for the first time , at a level lower than its ERM II central rate .
Po parlamentarnih volitvah na Slovaškem in po turbulentnem obdobju na mednarodnih kapitalskih trgih je bila krona julija pod pritiskom depreciacije , njen tečaj pa je prvič začasno padel pod centralno pariteto .
However , supported by interventions by Národná banka Slovenska , renewed market confidence in the new government 's economic policy , sound macroeconomic developments and an improvement in global risk appetite , the currency appreciated from mid-July onwards .
Ob podpori Národne banke Slovenske , obnovljenem zaupanju trgov v ekonomsko politiko nove vlade , zdravih makroekonomskih gibanjih in povečani nagnjenosti k tveganjem na svetovni ravni pa je slovaška krona v obdobju po sredini julija apreciirala .
On 28 December 2006 Národná banka Slovenska intervened in the foreign exchange market to alleviate appreciation pressures .
Národná banka Slovenska je 28 . decembra 2006 posegla na devizni trg , da bi ublažila pritiske apreciacije .
However , at the beginning of 2007 , the Slovak koruna continued to appreciate and , on 2 March 2007 , traded 10.7% above its ERM II central rate .
Toda na začetku leta 2007 je slovaška krona še naprej apreciirala , tako da je bil njen tečaj 2 . marca 2007 10,7% nad centralno pariteto v ERM II .
Turning to the currencies of the non-euro area EU Member States that were not participating in ERM II , developments varied across countries ( see Chart 38 ) .
Pri valutah držav članic EU zunaj euroobmočja , ki niso sodelovale v ERM II , so se gibanja od države do države razlikovala ( glej graf 38 ) .
In 2006 the Czech koruna and the Swedish krona gradually appreciated against the euro but lost some ground at the beginning of 2007 , respectively standing 3.0% and 1.1% stronger against the euro on 2 March 2007 than at the beginning of 2006 .
V letu 2006 sta češka krona in švedska krona do eura postopoma apreciirali , vendar sta valuti na začetku leta 2007 nekoliko padli , tako da je bil njun tečaj do eura 2 .
Despite some fluctuation in the second half of 2006 , the pound sterling strengthened from the beginning of July 2006 onwards , supported by positive economic developments in the United Kingdom and the expectation of higher interest rates . On 2 March 2007 the pound stood 1.4% above its January 2006 level .
marca 2007 v primerjavi z začetkom leta 2006 višji za 3,0% oziroma za 1,1% . Britanski funt se je kljub določenim nihanjem v drugi polovici leta 2006 od začetka julija dalje krepil , kar so spodbujala pozitivna gospodarska gibanja v Združenem kraljestvu in pričakovanja višjih obrestnih mer .
During the same period , the Hungarian forint and the Polish zloty depreciated slightly and experienced some exchange rate volatility . In the first half of 2006 , both currencies depreciated strongly against the euro in reaction to rising global risk aversion towards emerging markets .
marca 2007 je bil funt 1,4% višji kot januarja 2006 . V istem obdobju sta madžarski forint in poljski zlot nekoliko depreciirala , njun tečaj pa je nekoliko nihal .
85 Char t 38 Changes in the exchange rate o f t h e e u ro a g a i n s t E U c u r re n c i e s outside ERM II ( percentages )
V prvi polovici leta 2006 sta Graf 38 Spremembe tečaja eura do valut EU izven ERM II ( v odstotkih )
3 2 1 0 - 1 - 2 - 3 - 4 - 5 - 6 CZK
3 2 1 0 - 1 - 2 - 3 - 4 - 5 - 6 CZK HUF PLN SEK GBP
GBP 3 2 1 0 - 1 - 2 - 3 - 4 - 5 - 6
3 2 1 0 - 1 - 2 - 3 - 4 - 5 - 6 Vir : ECB .
differential remained comparatively large in Hungary where , in February 2007 , it stood at around 285 basis points .
Opombe : Pozitivna ( negativna ) vrednost predstavlja apreciacijo ( depreciacijo ) valute proti euru .
In this country , fiscal developments and external imbalances tended to keep long-term bond differentials high .
Spremembe se nanašajo na obdobje od 2 .
Stock markets in most non-euro area EU Member States performed favourably between January 2006 and February 2007 .
januarja 2006 do 15 . februarja 2007 .
Stock markets rose most in Estonia , Cyprus and Poland , where they clearly outperformed the average stock price developments in the euro area as measured by the Dow Jones EURO STOXX index .
obe valuti do eura močno depreciirali zaradi povečane svetovne nenaklonjenosti tveganjem na nastajajočih trgih .
However , the stock markets in all of the non-euro area EU Member States reacted negatively to the turbulence on the global market at the end of February .
Na Madžarskem je bil pritisk depreciacije na valuto najbrž tudi posledica javnofinančnega stanja in zaskrbljenosti trga glede zunanjega neravnovesja države .
In 2006 growth in credit to the private sector remained high in all non-euro area EU Member States ( at an annual average of 24 % year on year for the non-euro area EU Member States as a whole ) . Towards the end of 2006 , annual credit growth appeared to decelerate or stabilise in many countries , although often at relatively high levels .
Od začetka julija 2006 dalje sta se začela forint in zlot krepiti do eura zaradi povečane nagnjenosti k tveganjem na svetovni ravni ter v primeru Madžarske tudi zaradi višjih ključnih obrestnih mer in izvajanja načrta fiskalne konsolidacije . Do 2 .
A possible explanation for this development may be the interest rate increases implemented by the ECB and the majority of the non-euro area national central banks in 2006 ( see below ) , and the resulting tightening of the monetary policy stance .
marca 2007 sta madžarski forint in poljski zlot v primerjavi z začetkom leta 2006 postala približno stabilna do eura .
Credit expansion was the most dynamic in the fast-growing Baltic States ( in Latvia close to 60 % at the end of 2006 ) ( see Chart 39 ) . In the Czech Republic , Hungary , Poland , Slovenia and Slovakia , the annual growth of credit to the private sector increased to a level of 20 % or above at the end of 2006 .
FINANČNA GIBANJA Med januarjem 2006 in februarjem 2007 so gibanja donosov dolgoročnih obveznic v večini držav članic EU zunaj euroobmočja sledila gibanjem v euroobmočju , pri čemer je povečanju v prvi polovici leta sledil rahel upad v obdobju po juniju 2006 .
Rapid credit expansion in these catching-up economies needs to be seen in the context of financial deepening . Indeed , the ratios of credit to the private sector to GDP in all the countries that joined the European Union in May 2004 , with the exceptions of Cyprus and Malta , remain well below the euro area average .
Februarja 2007 so bile dolgoročne obrestne mere v državah članicah EU zunaj euroobmočja v povprečju približno 60 bazičnih točk višje kot na začetku leta 2006 .
Nevertheless , rapid credit expansion also poses a risk in terms of overheating and excessive external and internal imbalances . The large , rising share of foreign currency-denominated borrowing is of particular concern .
Povečanje je bilo največje v Latviji ( približno 150 bazičnih točk ) , kar kaže predvsem na poslabšanje predvidenih inflacijskih gibanj .
Notes : A positive ( negative ) value represents a depreciation ( appreciation ) of the currency against the euro . Changes refer to the period from 2 January 2006 to 2 March 2007 .
V drugih državah članicah EU zunaj euroobmočja so se dolgoročne obrestne mere zvišale manj kot v euroobmočju .
country 's external imbalances . From the beginning of July 2006 , however , the forint and the zloty started to strengthen against the euro , supported by improvements in global risk appetite and , in the case of Hungary , by increased policy rates and the implementation of a fiscal consolidation plan .
Razponi donosov državnih obveznic v državah članicah EU zunaj euroobmočja so bili v primerjavi z donosi v euroobmočju februarja 2007 v povprečju nižji kot na začetku leta 2006 .
By 2 March 2007 , the Hungarian forint and the Polish zloty had become broadly stable against the euro compared with the beginning of 2006 . FINANCIAL DEVELOPMENTS Between January 2006 and February 2007 , the evolution of long-term government bond yields in most of the non-euro area EU Member States was similar to the euro area , with an increase in the first part of the year followed by a slight decrease from June 2006 onwards .
Razlika v dolgoročnih obrestnih merah je ostala dokaj velika na Madžarskem in je februarja 2007 znašala približno 285 bazičnih točk . V tej državi so zaradi javnofinančnih gibanj in zunanjih neravnovesij ostajale razlike v donosih dolgoročnih obveznic visoke .
In February 2007 long-term interest rates in the non-euro area EU Member States were , on average , around 60 basis points higher than at the beginning of 2006 . The largest increase took place in Latvia ( around 150 basis points ) , largely reflecting the deterioration in the inflation outlook .
Gibanja na delniških trgih so bila v večini držav članic EU zunaj euroobmočja od januarja 2006 do februarja 2007 ugodna .
In the other non-euro area EU Member States , long-term interest rates rose less than in the euro area . Compared with euro area rates , government bond yield spreads in the non-euro area EU Member States in February 2007 were , on average , lower than at the beginning of 2006 .
Delniški trgi so dosegli najvišjo rast v Estoniji , na Cipru in Poljskem , kjer so precej presegli povprečna gibanja tečajev delnic v euroobmočju , merjena
ECB Annual Report 2006 C h a r t 3 9 C re d i t t o t h e p r i va t e s e c t o r in 2006 ( annual percentage changes ;
Graf 39 Krediti zasebnemu sektorju v letu 2006 ( medletne spremembe v odstotkih ;
as a percentage of GDP ) credit growth ( left-hand scale ) credit-to-GDP ratio ( right-hand scale ) 70 60 50 40 30 20 10 0 1 2 3 4 5 1 2 3 4 5 6 7 6 7 8 9 10 8 9 10 11 12 13 14 11 Euro area 12 Cyprus 13 United Kingdom 14 Denmark 200 175 150 125 100 75 50 25 0 Poland Slovakia Czech Republic Lithuania Hungary
kot odstotek BDP ) rast kreditov ( lestvica na levi strani ) delež kreditov v BDP ( lestvica na desni strani ) 70 60 50 40 30 20 10 0 1 1 2 3 4 5 2 3 4 5 6 6 7 8 9 10 7 8 9 10 11 12 13 14 11 euroobmočje 12 Ciper 13 Združeno kraljestvo 14 Danska Poljska Slovaška Češka Litva Madžarska Slovenija Estonija Latvija Malta Švedska 200 175 150 125 100 75 50 25 0
Sources : ECB , Eurostat , Central Bank of Cyprus , Bank of England .
Viri : ECB , Eurostat , Central Bank of Cyprus in Bank of England .
Notes : The data for Cyprus and the United Kingdom are based on a national definition .
Opomba : Podatki za Ciper in Združeno kraljestvo temeljijo na nacionalni definiciji .
Data refer to the annual growth rate of credit in December 2006 .
Podatki se nanašajo na mesečna povprečja za letno stopnjo rasti kreditov decembra 2006 .
Sweden and the United Kingdom , the annual rate of credit growth to the private sector accelerated in 2006 , compared with 2005 , to stand between 12 % and 15 % at the end of 2006 .
Na Češkem , Madžarskem , Poljskem , v Sloveniji in na Slovaškem se je medletna rast kreditov zasebnemu sektorju povečala ter ob koncu leta 2006 znašala 20 % ali več . Hitro rast kreditov v gospodarstvih v dohitevanju je treba obravnavati v okviru finančnega poglabljanja .
MONETARY POLICY The primary objective for monetary policy in all non-euro area EU Member States is price stability .
Na Danskem , Švedskem in v Združenem kraljestvu se je medletna stopnja rasti kreditov zasebnemu sektorju ob koncu leta 2006 v primerjavi s prejšnjim letom ravno tako pospešila in je znašala med 12 % in 15 %. DENARNA POLITIKA Glavni cilj denarne politike v vseh državah članicah EU zunaj euroobmočja je cenovna stabilnost .
Monetary policy strategies , however , differ considerably from country to country ( see Table 11 ) .
Strategija denarne politike pa se od države do države precej razlikuje ( glej tabelo 11 ) .
In 2006 the monetary policy and exchange rate regimes of the non-euro area EU Member States remained largely unchanged , although some refinements were made to monetary policy frameworks in a few countries with a view to future monetary integration .
Leta 2006 sta ostala denarna politika in tečajni režim držav članic EU zunaj euroobmočja večinoma nespremenjena , okvir denarne politike pa je bil v nekaterih državah izboljšan zaradi prihodnje denarne integracije .
With regard to monetary policy decisions between January 2006 and February 2007 , most central banks participating in ERM II adopted measures to tighten monetary policy conditions .
Kar zadeva sklepe o denarni politiki med januarjem 2006 in februarjem 2007 je večina centralnih bank , ki sodelujejo v ERM II , sprejela ukrepe za zaostritev pogojev denarne politike .
These often mirrored moves by the ECB , which in 2006 raised the minimum bid rate on the main refinancing operations of the Eurosystem by a total of 125 basis points to 3.5% .
Ti so pogostokrat odražali ukrepe ECB , ki je leta 2006 dvignila izklicno obrestno mero za operacije glavnega refinanciranja Eurosistema za skupaj 125 bazičnih točk na 3,5% .
In midFebruary 2006 Danmarks Nationalbank increased its key policy rate by 10 basis points to 2.5% on account of capital outflows earlier in the month stemming , inter alia , from purchases of foreign shares and other securities by Danish institutional investors .
Danmarks Nationalbank je sredi februarja 2006 zvišala svojo ključno obrestno mero za 10 bazičnih točk na 2,5% , in sicer zaradi odliva kapitala na začetku meseca , kar je bilo med drugim posledica nakupa tujih delnic in drugih vrednostnih papirjev s strani danskih institucionalnih investitorjev .
Subsequently , the national central bank followed the movements in the key ECB interest rates and increased its own main policy rate from 2.5% to 3.75% .
Zatem je nacionalna centralna banka sledila gibanjem ključnih obrestnih mer ECB in svoje obrestne mere dvignila z 2,5% na 3,75% .
Eesti Pank and Lietuvos bankas , which have no official policy rates given their currency board arrangements , automatically adopted the changes in the ECB 's monetary policy stance .
Eesti Pank in Lietuvos bankas , ki zaradi valutnega odbora nimata uradne ključne obrestne mere , sta avtomatsko sprejeli spremembe v naravnanosti denarne politike ECB .
In addition , Eesti Pank adopted a number of precautionary financial sector policy measures , including increasing its reserve requirement ratio from 13 % to 15 % to address potential financial stability risks related to continuing strong credit growth , particularly in the form of mortgages .
Poleg tega je Eesti Pank sprejela številne preventivne ukrepe na področju politike finančnega sektorja , med drugim je zvišala stopnjo obveznih rezerv s 13 % na 15 %, da bi zmanjšala potencialna tveganja glede finančne stabilnosti , povezana z nadaljnjo močno rastjo kreditov , zlasti v obliki hipotek .
The Central Bank of Cyprus increased its key policy rate by 25 basis points to 4.5% , against the background of a tightening of monetary policy by the ECB and rising inflationary pressures .
Ciprska centralna banka je dvignila svojo ključno obrestno mero za 25 bazičnih točk na 4,5% zaradi zaostrovanja denarne politike s strani ECB in naraščajočih inflacijskih pritiskov .
In a further attempt to tighten the liquidity conditions of the economy , Latvijas Banka increased its key interest rate in two steps , from 4 % to 5 %, and expanded the minimum reserve base to include banks » liabilities with a set term of over two years .
Latvijas Banka je v okviru nadaljnjih prizadevanj za zaostritev likvidnostnih pogojev povišala svojo ključno obrestno mero s 4 % na 5 % ter razširila osnovo za obvezne rezerve z vključitvijo obveznosti bank , ki imajo določeno dospelost nad dvema letoma .
The Central Bank of Malta increased its central intervention rate three times -- by a total of 75 basis points -- to 4.0% , against the background of the narrowing of the short-term interest rate differential vis-à-vis the euro in favour of the Maltese lira .
Central Bank of Malta je trikrat zvišala svojo osrednjo interventno obrestno mero , in sicer za skupaj 75 bazičnih točk na 4,0% , zaradi zmanjševanja razlike v kratkoročnih obrestnih merah glede na euro v korist malteške lire .
Národná banka Slovenska increased its main policy rate in four different steps , from 3.0% to 4.75% , reflecting mainly upward revisions in its inflation forecasts due to higher energy prices .
Národná banka Slovenska je v štirih različnih korakih dvignila svojo ključno obrestno mero s 3,0% na 4,75% , kar je bilo predvsem posledica navzgor popravljene napovedi za inflacijo zaradi višjih cen energentov .
Finally , Banka Slovenije , which had to align its key policy rate ( the 60-day tolar bill interest rate ) with the euro area level prior to the adoption of the euro on 1 January 2007 , gradually lowered its main policy rate in the first half of 2006 , keeping ECB Annual Report 2006 87
Banka Slovenije , ki je morala uskladiti svojo ključno obrestno mero ( obrestna mera za 60 dnevni tolarski blagajniški zapis ) z ravnjo euroobmočja pred uvedbo eura 1 . januarja 2007 , pa je v prvi polovici leta 2006 postopno znižala svojo ključno obrestno mero in jo do avgusta dalje vzdrževala nespremenjeno na ravni 3,5% ( glej tudi poglavje 3 ) .
Ta b l e 1 1 O f f i c i a l m o n e t a r y p o l i c y s t r a t e g i e s o f n o n - e u ro a re a E U M e m b e r S t a t e s during 2006 Monetary policy strategy Czech Republic Inflation target Currency Czech koruna Features Target : 3 %, ensuring that inflation outcomes do not differ from this target by more than one percentage point in either direction .
ECB Letno poročilo 2006 Ta b e l a 11 U r a d n e s t r at e g i j e d e n a r n e p o l i t i ke d r ž a v č l a n i c E U z u n a j e u r o o b m o č j a v l e t u 2 0 0 6 Strategija denarne politike Češka Ciljna inflacija Valuta Češka krona Značilnosti Cilj : 3 %, kar bi zagotovilo , da se inflacija ne razlikuje za več kot 1 odstotno točko v katero koli smer od ciljne inflacije .
Managed floating exchange rate .
Uravnavano drsenje deviznega tečaja .
Participates in ERM II with a ± 2.25% fluctuation band around a central rate of DKK 7.46038 per euro .
Sodeluje v ERM II z ± 2,25% razponom nihanja okoli centralne paritete DKK 7,46038 za 1 EUR .
Participates in ERM II with a ± 15 % fluctuation band around a central rate of EEK 15.6466 per euro .
Sodeluje v ERM II z ± 15 % razponom nihanja okoli centralne paritete EEK 15,6466 za 1 EUR .
Estonia continues with its currency board arrangement as a unilateral commitment .
Estonija še naprej ohranja ureditev valutnega odbora kot svojo enostransko zavezanost .
Participates in ERM II with a ± 15 % fluctuation band around a central rate of CYP 0.585274 per euro .
Sodeluje v ERM II z ± 15 % razponom nihanja okoli centralne paritete CYP 0,585274 za 1 EUR .
Participates in ERM II with a ± 15 % fluctuation band around a central rate of LVL 0.702804 per euro .
Sodeluje v ERM II z ± 15 % razponom nihanja okoli centralne paritete LVL 0,702804 za 1 EUR .
Latvia continues with a fluctuation band of ± 1 % as a unilateral commitment .
Latvija še naprej ohranja razpon nihanja ± 1 % kot svojo enostransko zavezanost .
Participates in ERM II with a ± 15 % fluctuation band around a central rate of LTL 3.45280 per euro .
Sodeluje v ERM II z ± 15 % razponom nihanja okoli centralne paritete LTL 3,45280 za 1 EUR .
Lithuania continues with its currency board arrangement as a unilateral commitment .
Litva še naprej ohranja ureditev valutnega odbora kot svojo enostransko zavezanost .
Exchange rate target : peg to the euro at HUF 282.36 per euro , with a ± 15 % fluctuation band .
Ciljni devizni tečaj : vezava na euro po tečaju 282,36 HUF za 1 EUR z razponom nihanja ± 15 %.
Inflation target : 3.5% (± 1 percentage point ) by end-2006 and 3 % (± 1 percentage point ) medium-term target from 2007 .
Ciljna inflacija : 3,5% (± 1 odstotna točka ) do konca leta 2005 in 3 % (± 1 odstotna točka ) kot srednjeročni cilj od leta 2007 dalje .
Participates in ERM II with a ± 15 % fluctuation band around a central rate of MTL 0.429300 per euro .
Sodeluje v ERM II z ± 15 % razponom nihanja okoli centralne paritete MTL 0,42930 za 1 EUR .
Malta maintains the exchange rate against the euro unchanged from the central rate as a unilateral commitment .
Malta v okviru svoje enostranske zavezanosti ohranja menjalni tečaj nespremenjen glede na raven .
Inflation target : 2.5% ± 1 percentage point ( 12-month increase in the CPI ) as from 2004 .
Ciljna inflacija : 2,5% ± 1 odstotna točka ( 12-mesečno povečanje ICP ) od leta 2004 .
Free-floating exchange rate .
Prosto drseči devizni tečaj .
Participated in ERM II with a ± 15 % fluctuation band around a central rate of SIT 239.640 per euro .
Sodelovala v ERM II z ± 15 % razponom nihanja okoli centralne paritete SIT 239,640 za 1 EUR .
On 1 January 2007 , Slovenia joined the euro area .
Slovenija se je 1 . januarja 2007 pridružila euroobmočju .
Denmark Estonia
Danska Estonija
Exchange rate target Exchange rate target
Ciljni devizni tečaj Ciljni devizni tečaj
Danish krone Estonian kroon
Danska krona Estonska krona
Cyprus Latvia
Ciper Latvija
Cyprus pound Latvian lats
Ciprski funt Latvijski lats
Exchange rate target
Ciljni devizni tečaj
Combined exchange rate and inflation target
Ciljni devizni tečaj in inflacija
Maltese lira Poland
Malteška lira
Polish zloty Slovenia
Poljska Slovenija
Two-pillar strategy monitoring monetary , real , external and financial indicators of macroeconomic conditions Inflation targeting under the conditions of ERM II
Ciljna inflacija Dvostebrna strategija za spremljanje denarnih , realnih , zunanjih in finančnih kazalnikov makroekonomskih razmer . Ciljna inflacija v razmerah ERM II
Slovenian tolar
Poljski zlot Slovenski tolar
Slovak koruna
Slovaška krona
Participates in ERM II with a ± 15 % fluctuation band around a central rate of SKK 38.4550 per euro .
Sodeluje v ERM II z ± 15 % razponom nihanja okoli centralne paritete SKK 38,4550 za 1 EUR .
The inflation target for the period 2006-08 is set below 2.5% for end-2006 and below 2 % at end-2007 and end-2008 .
Ciljna inflacija za obdobje 2006 -- 2008 je pod 2,5% do konca leta 2006 in pod 2 % do konca leta 2007 in do konca leta 2008 .
Inflation target : 2 % increase in the CPI with a tolerance margin of ± 1 percentage point .
Ciljna inflacija : 2 % povečanje ICP s tolerančnim razponom ± 1 odstotne točke .
Inflation target : 2 % as measured by the 12-month increase in the CPI 1 ) .
Ciljna inflacija : 2 %, merjeno s povečanjem ICP 1 ) v 12 mesecih .
In the case of a deviation of more than 1 percentage point , the MPC is expected to write an open letter to the Chancellor of the Exchequer .
Pri odstopanju za več kot 1 odstotno točko se pričakuje , da bo Odbor za monetarno politiko poslal odprto pismo britanskemu finančnemu ministru .
Free-floating exchange rate . Sweden
Prosto drseči devizni tečaj .
Inflation target Swedish krona
Švedska Združeno kraljestvo
United Kingdom Inflation target
Ciljna inflacija Ciljna inflacija
Pound sterling
Švedska krona Britanski funt
Source : ESCB .
Vir : ESCB .
1 ) The CPI is identical to the HICP .
1 ) ICP je enak HICP .
Česká národní banka raised its main refinancing rate by 50 basis points to 2.5% , largely on account of the inflation outlook . The Magyar Nemzeti Bank increased its policy rate in five different
ki bo nekaj časa verjetno ostala nad ciljno ravnjo centralne banke .