The Board of Romania’s Central Bank (BNR) decided on Tuesday to cut the key interest rate to 3% per year, from 3.25%, as of October 1, 2014, and also to slash the mandatory minimum reserve rate applicable to the lei liabilities of credit institutions to 10% from 12%, as of the enforcement period October 24 to November 23, 2014, reads a BNR release. On the other hand, the BNR has decided to maintain the mandatory minimum reserve rate applicable to foreign exchange liabilities at 16%.
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