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BNR might keep key interest rate unchanged at 3.5 pct at upcoming Board session
The National Bank of Romania (BNR) might keep the monetary policy interest rate unchanged at 3.5 percent per annum at the next sitting of the institution's Board of Directors dedicated to monetary policy issues, scheduled for May 6, show the views expressed by the participants in an internal poll conducted within the Romanian Association of Financial - Banking Analysts (AAFBR).
'The estimates of the analysts who participated in the poll indicate an interest rate of 3.5 percent per annum at both the horizon of December 2014, and December 2015. Estimates for December 2015 vary between a minimum of 3 percent and a maximum of 4 percent,' reads the AAFBR release.
According to the polled experts, the reserve requirements for liabilities in domestic 'lei' could be maintained at 12 percent this May. The National Bank of Romania may subsequently decide to reduce this share to 10 percent by the end of 2014 and to 8 percent, respectively, by the end of 2015. Estimates for December 2015 range from a minimum of 6 percent to a maximum of 12 percent.
'The reserves requirements for foreign currency liabilities could be maintained at 18 percent in May. The National Bank of Romania may subsequently decide to reduce this share to 16 percent by the end of 2014 and 14 percent, respectively, by the end of 2015. Estimates for December 2015 vary between a minimum of 12 percent and a maximum of 18 percent,' reads the AAFBR release.
AAFBR is a non-profit professional association established in January 2008, which brings together about 60 analysts from the banking sector, pension funds, investment managing companies, insurers and from the capital market.