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Romanian Ctrl Bker: Monetary Policy Can’t Be Relaxed Much

The monetary policy should be in line with the local and international conditions and cannot be relaxed too much, even if Romania comes after ten years of economic growth, central bank governor Mugur Isarescu said Tuesday.
Romanian Ctrl Bker: Monetary Policy Can’t Be Relaxed Much
14 oct. 2008, 19:10, English

"There were 10 years of economic growth. The rule of the economic cycles shows us that a period of weakness lies ahead. We have to be wise and avoid previous problems," Isarescu said at a presentation in the Romanian Parliament,

Isarescu reiterated that a country should correlate very well salary hikes with productivity increases, adding Romania should also look at increasing savings.

The governor added that Romania should aim at lower budget deficit in the next period.