Romania Central Bank Retains Interest Rate
2012-06-27 15:45:31
The Romanian central bank on Wednesday decided to keep its policy interest rate unchanged for the second time in a row. The decision was in line with economists' expectations.
The monetary policy council of the National Bank of Romania maintained the key interest rate at 5.25 percent. The bank, meanwhile, decided to maintain the current levels of minimum reserve requirement ratios in domestic and foreign credit institutions.
The last time the central bank cut the rate was in March when it slashed the key rate by 25 basis points, following a similar reduction in February. A series of four cuts were carried out in order to support the leu after it fell to a record low amid political turmoil.
Data from the statistical office showed that Romania's annual inflation remained broadly stable at 1.79 percent in May.