Banks' mandatory reserves in local currency cut to 18 pct

At the same meeting held on October 30, 2008, the Board of the National Bank of Romania decided to keep the monetary policy interest rate unchanged at 10.25 pct per annum; manage liquidity so as to ensure the proper functioning of the interbank market; leave the existing minimum reserve requirement ratio on commercial banks' foreign liabilities unchanged at 40 pct.

The BNR Board also examined and approved the quarterly Report on Inflation, a document which assesses the recent macroeconomic environment and the inflation outlook, identifying the main challenges and risks to the monetary policy in the coming period.