30 Septembrie 2009
NBR cuts key rate by half-point
The policymaking board of National Bank of Romania had decided today to cut the monetary policy rate by half a percentage point to 8% and to keep the requires reserve ratio for leu and FX liabilities at 15% and 30% respectively.
The rate cut will lead to lower costs for Lombard credit facility from 12.5% to 12% a year, and for the deposit facility from 4.5% to 4%.
The NBR’s board gathered today in one of the last rate-setting sessions of the year. It was also the last session in the current configuration of the board, as its mandate expires in October.
The NBR’s board gathered today in one of the last rate-setting sessions of the year. It was also the last session in the current configuration of the board, as its mandate expires in October.