Central Bank decides to keep key rate at 3.5 pct per annum

Newsroom 06/05/2014 | 12:37

The National Bank of Romania’s (BNR) Board of Directors on Thursday decided to keep the monetary policy rate at 3.5 percent per annum, the Central Bank announced in a release.

The bank also maintained its minimum reserve requirements at 12% for Romanian-leu denominated liabilities and at 18% for foreign currency liabilities.

The decision was widely expected, though analysts say the central bank might lower its minimum requirements by the end of the year.

The National Bank of Romania may subsequently decide to reduce this share to 10 percent by the end of 2014 and to 8 percent, respectively, by the end of 2015. Estimates for December 2015 range from a minimum of 6 percent to a maximum of 12 percent.

‘The reserves requirements for foreign currency liabilities could be maintained at 18 percent in May. The National Bank of Romania may subsequently decide to reduce this share to 16 percent by the end of 2014 and 14 percent, respectively, by the end of 2015. Estimates for December 2015 vary between a minimum of 12 percent and a maximum of 18 percent,’ according an AAFBR release.

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