BUSINESS

Will BNR lower key interest rate below the 3 pc psychological threshold?

The National Bank of Romania (BNR) could lower the key interest rate by 0.25 per cent to 2.75 per cent per year during its monetary policy meeting on Tuesday, while simultaneously maintaining the minimum mandatory reserves for RON-denominated liabilities, the relaxation cycle set to continue in 2015 to 2.5 per cent according to analysts.
“According to the opinions expressed by the participants to an internal opinion poll conducted within the Association of Financial and Banking Analysts in Romania (AAFBR), the National Bank of Romania could lower the monetary policy interest rate to 2.75 per cent during the next meeting of its Administrative Council on Tuesday, November 4, 2014. Most of the people that took part in the poll consider that the minimum mandatory reserves for RON-denominated liabilities could be maintained constant,” an AAFBR communiqué reads.
BNR’s Administrative Council cut the monetary policy interest rate by 0.25 per cent at the end of September, from 3.25 to 3 per cent per year, and lowered the minimum mandatory reserves (MMR) for RON-denominated liabilities from 12 to 10 per cent, maintaining the MMR for forex-denominated liabilities at 16 per cent..

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