Bratislava - Slovakia's central bank Tuesday left its key interest rate on hold for 15th consecutive month, staying in line with eurozone borrowing costs ahead of switching to the euro in January.

The decision kept the two-week repo rate at 4.25 per cent, the central bank said. The European Central Bank, seeking to ward off inflation, raised its key rate for the 15 nations using the euro to the same level on July 3.

Slovakia has one of the European Union's fastest-growing economies. But inflation is running ahead of the eurozone average and some economists have called for higher rates to curb rising prices.

The former Soviet-bloc nation will come under the ECB's monetary policy when it switches to the euro on January 1, 2009.

Slovakia recorded year-on-year inflation of 4.6 per cent in May and June, the highest since September 2006.

Prime Minister Robert Fico's centre-left government pledged to keep consumer prices in check prior to getting EU approval for joining the eurozone. (dpa)