BNR increases key rate to 10.25 percent

‘'In the meeting of July 31, 2008, the managing board of the National Bank of Romania decided to increase the monetary policy interest rate to the level of 10.25 percent a year from 10 percent a year, starting August 1, 2008,'' reads a release issued by the central bank.

BNR decided to continue the firm management of liquidity on the monetary market through market operations and the maintenance of the current rates of compulsory minimal reserves applicable to RON denominated liabilities and in foreign currency of loan institutions.

The BNR managing board examined and approved the quarterly report on inflation, which assesses the recent macroeconomic context, examines the inflation's outlooks and identifies the main challenges and restraints which the monetary policy will confront with in the upcoming period.

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