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BCR adjusts its forecast on BNR interest rate, anticipating stability or even increase

The Romanian Commercial Bank (BCR) adjusted its previous forecast regarding the monetary policy interest rates set by the Romanian Central Bank (BNR), anticipating it will steady itself to 6.25 percent in 2011 and that it might grow in 2012, said BCR chief economist Lucian Anghel when presenting the macroeconomic report 'Romania - Back on an Upward Track.'

BCR estimated a reduction in the interest rate of the monetary policy in 2011 in its previous forecast.The reconsideration of the BCR forecast was triggered by the optimism about the boost in Romania's economy, estimated to get nearer the growing potential registered during the previous years, as well as by the fact that consumption plummets in election years.

On March 31, 2011, the board of directors of the National Bank of Romania decided to keep the interest rate of the monetary policy to 6.25 per year, unmodified since May 5, 2010, as well as the reduction from 25 to 20 percent of the interest rate for minimum statutory reserves destined to liabilities in foreign exchange with a residual maturity smaller than two years of the loaning institutions, starting in 2011, from April 24 to May 23.

Sursa: http://www.actmedia.eu

Tags: interest forecast bcr bnr

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