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BNR Governor says monetary policy is restrictive enough, interest may still rise above 10%

de Radu Rizea
Miercuri, 23 aprilie 2008, 18:41 English | Top News

The monetary policy in Romania is restrictive enough, in order to reduce inflation, step by step, due to the roughening credit obtaining conditions, Central Bank (BNR) governor Mugur Isarescu said in an interview for Reuters. Still, the governor didn't exclude the possibility to see the key interest level rising above 10% in case the inflation accelerates.

The Central Bank increased its reference interest rate in 2008 from 7 to 9.5%, while the inflation rate reached 8.6%, the highest level in the past two years.

According to Isarescu, the inflation will be near the annual target at the end of 2008, meaning some 5.9 - 6%.

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