September 18, 2018

Key-interest rate at a new all-time record low of 5.25 %

The Board of Directors (CA) or the National Bank of Romania (BNR) yesterday cut the key-interest rate by 0.25 percentage points from 5.5 % to 5.25 % per annum, which is a new all-time record low, according to a release from the central bank. Since the beginning of this year, the central bank has reduced the key-interest by a total of 0.75 %, by successive 0.25 point cuts. BNR has also decided to keep the minimum requirement for lenders at 15 % for liabilities in RON and 20 % for other currencies. National Bank Governor Mugur Isarescu held a press briefing yesterday for the first time after a decision to reduce the key-interest rate, by that following the practice of the European Central Bank and of the Federal Reserve of the US, who organize press briefings shortly after decisions made during their monetary policy meetings. During the meeting, Mugur Isarescu noted that in the second half of the year we may see a rise in inflation, without exceeding the 3 % target established in the agreement with the International Monetary Fund (IMF).

Source: Nine o’clock (read more)

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