BNR cuts key interest rate to 8 pct per year

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The Administration Board of Romania’s National Bank (BNR) decided on Tuesday to reduce the key interest rate to 8.00 percent per year, from the level of 8.5 percent, starting on September 30, 2009, BNR informs.

At the same time, the Board members decided to adequately manage the liquidity in the banking system in view to consolidate the monetary policy transmission channels and to keep on the current levels of the mandatory minimum reserve rates applicable to lei and forex passives of the credit institutions.

BNR will continue to carefully monitor the internal evolutions, as well as the international economic environment, so that through the adequacy of its available instruments to ensure the attaining and to further keep stable the medium-term prices, as well as to secure financial stability.

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