Tuesday, February 5, 2013

Romania holds policy rate steady at 5.25%

    Romania's central bank held its policy rate steady at 5.25 percent along with the current level of reserve requirements on leu-denominated and foreign exchange deposits.
    The National Bank of Romania (NBR), which has held its rate steady since March 2012, said it would release details of its quarterly inflation report during a press conference on Feb. 7.
    Romania's inflation rate rose to 4.95 percent in December from November's 4.56 percent, above the central bank's target of 2.5 percent, plus/minus one percentage point.
    Last month the bank said the rising inflation trend had been halted and the economy was slowly recovering.
    The country's Gross Domestic Product contracted by 0.4 percent in the third quarter from the second for annual contraction of 0.6 percent, down from annual growth of 1.7 percent in the second quarter.




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