Romania Central Bank Keeps Key Rate Unchanged At 6.25%

Romania’s central bank Thursday left its main interest rate at a record low of 6.25% a year for the sixth consecutive time as it continues to battle a high inflation.

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The bank also decided to maintain the current levels of the minimum reserve requirements at 15% for Romanian leu-denominated liabilities and 25% for foreign currency liabilities.

Romanian annual inflation stood at 7.96% at the end of December 2010, well above the central bank's 4.5% upper limit of the targeted interval.

The higher inflation was largely driven by a 5 percentage point increase in the value added tax level.

In 2011, the central bank targets an annual inflation of 3%, plus/minus one percentage point around the band.

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