ECONOMY FINANCE&BANKING

Central bank lowers minimum reserve currency, leaves key interest rate unchanged

The Board of Directors of the National Bank of Romania (BNR) decided on Friday to maintain the key interest rate at 1.75 percent per year and to lower the minimum reserve currency on foreign exchange-denominated currencies to 10pct, from 12pct, starting with 24 October – 23 November 2016 enforcement period, a release of the central bank reveals.

According to the BNR, the minimum reserve currency on RON liabilities maintains at 8 percent.

Also, the BNR’s Board of Directors decided to adequately manage the liquidity of the banking system.

The monetary policy rate is unchanged since May 2015.

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