Romania’s Central Bank maintains monetary policy rate at 2.5 percent

Aurel Dragan 06/11/2018 | 15:25

The Board of Directors of the National Bank of Romania decided in today’s meeting to maintain the monetary policy rate at the level of 2.5 percent per annum and to maintain the current levels of the minimum reserve requirements applicable to the RON and foreign currency liabilities of credit institutions, the central bank announced.

At the same time, the BNR decided to maintain the interest rate for the deposit facility at 1.50 percent per annum and the interest rate on the lending facility at 3.50 percent per annum.

The three-month ROBOR rate, which is used to establish the cost of RON-based loans with variable interest rates, declined on the interbank market on Tuesday by 0.01 percentage points to 3.25 percent per annum.

According to BNR data at the beginning of this year, ROBOR at 3 months stood at 2.05 percent. In the same period last year, on November 6, the indicator was at 1.86 percent per year.

ROBOR at 6 months, used in the calculation of interest rates on mortgages, remained unchanged compared to the previous day at 3.49 percent per annum, while ROBOR at 9 months stagnated at 3.56 percent, representing the rate interest paid on credits in RON attracted by commercial banks from other commercial banks. The 12-month ROBOR is 3.61 percent, the same value as yesterday.

The exchange rate for EUR/RON on Tuesday was at RON 4.6640 per EUR, rising by 0.06 percent compared to the previous day, when the European currency was worth RON 4.6612.

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