BUSINESS

BNR maintains monetary policy interest at 6.25 pc

The Board of Administration of the National Bank of Romania (BNR) decided yesterday to maintain the monetary policy interest at the historical minimum of 6.25 per cent, as well as maintaining the reserve requirements for deposits in RON at 15 pc and, for those in foreign currency, at 25 per cent. Moreover, according to Mediafax, the central bank reverted to an “adequate” management of liquidity in the banking system. In a meeting at the end of June, after the Government announced a VAT hike from 19 to 24 per cent, the BNR board halted the reduction of the monetary policy interest and reinforced its message on liquidity in the system, arguing it aims at a “firm” management of the latter.

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