Romania's National Central Bank reduced the monetary policy interest rate to 9%

de A.C.
Marţi, 30 iunie 2009, 13:57 English | Business

Romania's National Central Bank decided to reduce the monetary policy interest rate by 0.5 percentage points, to 9% /year starting July 1, a press release of the central bank reads. Moreover, the bank decided to reduce the minimum mandatory reserve rate to 15% for stocks in lei and to 35% for stocks in foreign currency.

The key interest rate, reduced from 9.5% to 9% was expected by local financial analysts. According to an internal study put forward by the Financial - Banking Analysts Association in Romania, 86% of the participants estimated that the national bank might reduce the monetary policy interest rate due to the negative trend of the economic environment in the first quarter of the year.

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