Thursday, March 31, 2011

Romania Central Bank Holds Rate at 6.25%

The Banca Nationala a Romaniei maintained its policy rate unchanged at 6.25% while adjusting reserve requirements "to ensure adequate management of liquidity in the banking system". The Bank cut the minimum reserve requirements ratio on foreign currency-denominated liabilities with residual maturities of up to two years by 500 basis points to 20% from 25%, and held the minimum reserve ratio on leu-denominated liabilities at 15%. The Bank noted that Romania had seen inflation of 7.6% in February 2011, up from 6.99% in January, and above the Bank's inflation target of 3% plus or minus 1%.


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