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Key rate – Romania's central lender slashes the monetary policy rate to 7.5%

Romania's Central Bank (BNR) lowered the benchmark rate from 8 to 7.5 percent, level unreached since the beginning of 2008, and decided to keep the minimum mandatory reserves for banks' passives in the first monetary policy session of the year, the lender announced.

Most analysts estimated BNR to maintain the key interest rate at 8 percent following uncertainties regarding the fiscal policy and inflationist pressures, or to reduce it by 0.25 percentage points, to 7.75 percent.

The central lender plans to continue monitoring the internal evolutions and those of the international economic environment in a bid to assure financial stability.

In 2009, BNR slashed the key interest rate five times, from 10.25 percent to 8 percent, and lowered the level of minimum mandatory reserves to 15 percent for lei passives and to 25 percent for the foreign currency ones.

Sursa: http://www.newsin.ro

Tags: percent central policy lender bnr

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