Prima pagină » English » Romanian Ctrl Bk Cuts Key Rate To 9%, Lowers Reserve Ratios

Romanian Ctrl Bk Cuts Key Rate To 9%, Lowers Reserve Ratios

The Board of Romania's central bank decided Tuesday to cut the key monetary policy rate by 0.5 percentage points to 9%, starting with July 1, and to lower the minimum reserve requirements ratios on both Romanian leu- and foreign currency-denominated liabilities.
Romanian Ctrl Bk Cuts Key Rate To 9%, Lowers Reserve Ratios
30 iun. 2009, 13:11, English

The central bank cut the minimum required reserves ratio for RON-denominated liabilities by three percentage points to 15%, while the ratio for foreign currency-denominated liabilities was lowered by five percentage points to 35%.

The lower reserve ratios will be applied starting with the July 24-August 23 maintenance period, the central bank said in a statement.

The central bank’s Board also decided to actively use open-market operations in order to ensure an adequate management of liquidity in the banking system.