Romanian Ctrl Bk Fails To Attract Deposits As Mkt Interest Rates Are Higher

"Interests on the market are more attractive than the central bank’s, and no lender took part in the auction,” said a dealer with a Bucharest-based bank.

In the auction last Monday, the central bank attracted 1.85 billion lei (EUR1 =RON3.6475) in a one week deposit, with an interest of 9.75%, equal to the key rate at that time.

The central bank raised Thursday, for the sixth time running, its monetary policy rate by 0.25 percentage points, to 10%, citing persistent inflationary shocks driven by forthcoming increases in administered prices such as natural gas and electricity.