ANEIR's Ionescu: Lower monetary policy rate boosts business competitiveness

'This is a welcome measure, even if its is somehow overdue. There will certainly be positive effects on two levels. Firstly, the appetite of speculative capital in pressurising the local currency and the foreign exchange rates will diminish. At the same time, the BNR's measure will provide improved opportunities to the companies to be more competitive in accessing loans on small interest rates. The negative effects will be felt by the individuals and the companies that used to live on bank deposits, but loan owners will stand to win because we are expecting a cut in interest on loans if the commercial banks takes over the BNR message positively. These things should happen, or at least would be desirable to happen as quick as gas, oil and energy prices rise overnight when the exchange rates change,' said Ionescu.

BNR on Wednesday decided to cut its monetary policy rate from 6.25 percent to 6 percent.The previous cut in the rate occurred on May 4, 2010, when BNR cut the rate by 0.25 percentage, to 6.25 percent.