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Financial News: Romania Keeps Key Rate Unchanged

Romania Keeps Key Rate Unchanged

07/04/2019 - 08:49:00 (RTTNews)

(RTTNews) - Romania's central bank left its key interest rate unchanged, as widely expected, on Thursday.

The board of the National Bank of Romania decided to retain its policy rate at 2.50 percent. The bank also maintained its deposit facility rate at 1.50 percent and the lending facility at 3.50 percent.

Policymakers also decided to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.

The board noted that inflation remained at 4.1 percent in May, above the band of target and expectations. Economic growth improved to 5 percent in the first quarter driven by consumption.

The board said the decisions aim to ensure and preserve price stability over the medium term in a manner conducive to achieving sustainable economic growth and amid safeguarding financial stability.

Continued weakness in key euro-zone trading partners and a dovish shift among central banks across the globe are arguments in favor of keeping policy on hold, Liam Carson, an economist at Capital Economics, said.

However, the Romania's central bank will soon be forced to raise interest rates to cool the economy, Carson noted.

For comments and feedback: contact editorial@rttnews.com

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