Romanian Monetary Policy Kept Unchanged
Romania’s monetary policy rate has been 6.25% since May 2010 and will remain at that level until at least the next meeting on August 3. The central bank has not yet begun tightening, even tough CPI inflation of 8.4% as of May is twice as high as its level at the time of the May 2010 interest rate reduction. The policy rate had been cut previously in nine steps from a peak of 10.25% prior to February 2009.
A statement from Romanian monetary authorities warns of significant inflation risks but notes slower growth in exports and industrial production and a negative recent trend in the index of leading economic indicators. The last policy change was a reduction in minimum required banking reserve ratios at the end of March.
Copyright Larry Greenberg 2011. All rights reserved. No secondary distribution without express permission.
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