Thursday, September 27, 2012

Romania holds policy rate steady at 5.25%

    The central bank of Romania held its monetary policy rate unchanged at 5.25 percent, as expected by economists, and said it would also ensure adequate liquidity in the banking system and maintain existing levels of minimum reserve requirements.
    The National Bank of Romania said  details about its decision would be presented later today.
    Romania's central bank cut its policy rate in February and March for a total reduction this year of 50 basis points.
    Romania's Gross Domestic Product expanded by 0.50 percent in the second quarter for an annual growth rate of 1.7 percent, up from 0.30 percent.
    The inflation rate in August rose to 3.9 percent , up from 3.0 percent, due to the higher cost of food from drought . The central bank targets annual inflation of 2-4 percent.


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