Adviser to the NBR governor sheds light on central bank's monetary policy actions

The National Bank of Romania lowered the monetary policy rate to 8.5% per annum, reduced the required reserve ratio for fx-denominated liabilities to 30%, and reduced the maturity of the auction-based repo operations to one week from one month. Lucian Croitoru, monetary policy adviser to the NBR governor, outlined to Wall-Street the reasons underlying NBR’s decisions in the yesterday’s rate-setting session and their possible effects.

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