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Romania maintains monetary policy rate at 6¼%
By Richard Connell
New York, Jan. 5 - The board of the National Bank of Romania kept its monetary policy rate unchanged at 6¼% at its meeting on Wednesday, according to a news release issued by the bank.
Annual inflation in Romania fell slightly to 7.73% in November, which was in line with earlier forecasts.
The board forecast that inflation is expected to drop to 3.4% during 2011, as the first-round effects of the VAT rate hike begin to fade out.
Stating that a prudent monetary policy stance is required to preserve the prospects of returning inflation toward the medium-term targets, the board held the rate at 6¼%.
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