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November 25, 2022

BNR: Monetary policy rate, unchanged

In its meeting of May 2, 2013, the Board of the National Bank of Romania (BNR) has decided to keep unchanged the monetary policy rate at 5.25 percent per annum, to continue to pursue an adequate liquidity management and to leave unchanged the existing minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions, a press release informs. In order to temper interest rates volatility on the money and banking markets the BNR Board has decided to narrow the symmetrical corridor around the monetary policy rate for the interest rates on the BNR standing facilities to +/- 3 percentage points from +/- 4 percentage points. Therefore, starting with May 3, 2013 the interest rate on the BNR’s lending facility (Lombard) will be lowered to an annual 8.25 percent from 9.25 percent, while its deposit facility rate will stand at 2.25 percent per annum versus 1.25 percent previously. The BNR Board has also examined and approved the quarterly Inflation Report, which will be released to the public in a press conference scheduled for today.

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