BNR keeps required reserve ratio steady, in a surprising move for market watchers

In today’s rate-setting meeting, National Bank of Romania (BNR) decided to keep the lending rate steady at 10.25%, in line with analysts’ expectations, and to hold the required reserve ratio for leu-currency liabilities unchanged, at its current level of 18% and 40% for foreign currency liabilities.

However, analysts were betting on required reserve ratio cut for liabilities in local currency, after a prior cut to 18% from 20%, NewsIn informs.

NBR said it would properly manage the liquidity in the banking system through active use of operations in monetary market.

“The board of BNR affirms that the central bank will continue to closely monitor domestic developments and the global economic evolutions so as to adequately adjust its instruments to ensure the achievement of its objectives related to both price stability and financial stability, in the context of a balanced macroeconomic policy mix”.

BNR’s announcement has not yet influenced the course of the national currency, which maintained at quotations near to 4.06 lei/euro, five minutes after the press release had been published.

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