National Bank of Romania keeps unchanged the monetary policy rate at 10% |
Autor: Bancherul.ro
2009-03-31 14:43 |
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In its meeting of March 31, 2009, the Board of the National Bank of Romania analyzed and approved the letter of intent sent to the International Monetary Fund regarding the external financing arrangement with international financial institutions and the European Union.
The NBR Board has also decided the following:
• to keep unchanged the monetary policy rate at 10.00 percent per annum;
• to actively use open-market operations in order to ensure an adequate management of liquidity in the banking system;
• to cut the minimum reserve ratio on foreign-denominated liabilities with residual maturities of over two years to zero from 40 percent at present, starting with the May 24-June 23, 2009 maintenance period;
• to leave unchanged the existing minimum reserve requirements ratios on leu-denominated liabilities of credit institutions as well as on foreign-currency denominated liabilities with residual maturities of up to two years.
The NBR Board will continue to monitor domestic and global economic developments so that through an adequate use of its available instruments to ensure the fulfilment of its objectives in what concerns attaining and maintaining price stability in the medium term as well as ensuring financial stability.
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