NBR has decided to lower the policy rate by 0.75 of a percentage point and to increase to 30 percent the required reserve ratio on deposits in foreign exchange
06.08.2004
The National Bank of Romania Board has decided in its meeting of 5 August, after having reviewed macroeconomic developments, to lower the policy rate by 0.75 of a percentage point, to reflect the continuing disinflation. The National Bank of Romania will maintain the prudent monetary policy stance to ensure that macroeconomic equilibria remain in place.
The National Bank of Romania Board has also decided to increase to 30 percent the required reserve ratio on deposits in foreign exchange, in order to spur financial intermediation in domestic currency, and to secure an effective risk management of credit institutions.