Romanian Ctrl Bk May Release EUR800M From Reserves

Romania’s central bank BNR decided Tuesday to cut to zero from 40% at present the minimum reserve ratio on foreign-denominated liabilities with residual maturities of over two years.

The decision will be applied starting with the May 24-June 23, 2009 maintenance period.

BNR kept unchanged the key monetary policy rate at 10% on the year, and left unchanged the current minimum reserve requirements ratios on leu-denominated liabilities at 18%, as well as on foreign-currency denominated liabilities with residual maturities of up to two years, at 40%.