Loading ...Romania’s Central Bank (BNR) announced on June 26 it would increase to 10% the key interest rate as of June 27, in the wake of a decision of its Board.
"In the June 26 meeting, the Board of BNR decided to increase the key interest rate to 10% per year from 9.75% per year, starting June 27, 2008," reads a BNR release for ROMPRES.
BNR also decided to continue the firm management of the liquidity on the monetary market through the market operations and maintaining the current level of the mandatory minimum reserves applicable to the banks’ liabilities in lei and forex.
The Board of BNR will closely monitor the trend of the macroeconomic indicators, being ready to use the entire set the instruments it has to counter the inflationary pressures and ensures the resumption of the disinflation process at a pace compatible with reaching in sustainable manner the announced medium-term inflation targets, the release reads.
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