BANCI | ENGLISH

NBR lowers the monetary policy rate to 8.5%

Autor: Bancherul.ro
2009-08-04 13:05

In its meeting of August 4, 2009, the Board of the National Bank of Romania has decided the following:
� to lower the monetary policy rate to 8.5 percent per annum from 9.0 percent starting with August 5, 2009;
� to lower the minimum reserve requirements ratio on foreign currency-denominated liabilities with residual maturities of up to two years to 30 percent from 35 percent starting with the August 24-September 23, 2009 maintenance period;
� to actively use open-market operations in order to ensure an adequate management of liquidity in the banking system and reduce to one week from one month the maturity of its main monetary policy instrument, the repo operations via auctions.
The NBR Board has examined and approved the quarterly Inflation Report, which will be released to the public in a press conference scheduled for August 6, 2009.

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