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BNR lowers monetary policy rate to 3.25pc p.a.

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The Administration Board of the National Bank of Romania (BNR) on Monday decided to lower the bank's monetary policy rate to 3.25 per cent per annum from 3.50 per cent starting with August 5, 2014.

The board also decided to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions at 12 per cent and 16 per cent, respectively.

It examined and approved the quarterly Inflation Report to be presented to the public in a news conference scheduled for August 6, 2014.

The evolution is owed to the actions of some off factors (dynamics of volatile prices of the food products, the nominal appreciation of the national currency, the influence of import prices reflecting partially the lower levels of the euro-zone inflation), superimposed to the persistent effects of the deficit of aggregated demand and of the descending adjustments of the inflationist anticipations.

According to the approved calendar, the following meeting of the BNR Board dedicated to the monetary policy will take place on September 30, 2014.

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