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Central Bank may increase monetary policy interest rate

de     HotNews.ro
Miercuri, 31 octombrie 2007, 0:00


Bankers expect the Romanian Central Bank (BNR) to increase on Wednesday the monetary policy interest rate, in order to reduce the inflation. Analysts estimate that the credits will continue to grow despite this measure, even in case this would lead to the growth of credits' interests.

The 4% inflation target is jeopardized due to price growth pressure, prolonged drought effects and the high inflation rate in September.

The Central Bank will maintain the current obligatory minimum reserve for banks (20% for the Romanian Leu - RON - and 40% for convertible currencies), despite the fact that the European average for such reserves is 2%.

The decision to increase the monetary policy interest rate may come on Wednesday, after the meeting of the BNR administration board.

In the US, the Federal Reserve monetary policy committee will announced on Wednesday (at 20:15, Romania time) a 0.25% decrease of the monetary policy interest rate.

The decision comes after a surprising 0/5% decrease of the interests for "overnight" loans between banks. The monetary policy interest rate would thus reach the 4.5% level, the lowest rate since March 2006.
























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