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Romanian Bkers Want Ctrl Bk To Cut Rate, Min Req Reserves Ratios

Romanian bankers are waiting for the central bank to cut both the key rate and the minimum required reserve ratios in next week’s Board meeting, in order to unfreeze lending, said the president of the Romanian Banks Association, or ARB.
Romanian Bkers Want Ctrl Bk To Cut Rate, Min Req Reserves Ratios
29 ian. 2009, 15:44, English

Banks cannot re-launch lending without lower interest rates, ARB president Radu Ghetea said Thursday.

“We are all waiting for the central bank to cut both the monetary policy rate and the minimum required reserve ratios, to increase liquidity and to revive the demand for loans,” Ghetea added.

In its last monetary policy board meeting on January 6, the central bank kept the key monetary policy rate at 10.25%. It also kept the minimum required reserves ratio on both leu-denominated and foreign currencies liabilities of credit institutions at 18%, and 40%, respectively.

The next monetary policy board meeting will take place on February 4.