National Bank of Romania holds steady on monetary policy rate at 6¼%

By Susanna Moon

Chicago, Sept. 29 - The National Bank of Romania's board decided to maintain its monetary policy rate at 6¼% at its meeting on Thursday.

The board also said it will try to ensure adequate management of liquidity in the banking system and to maintain the existing levels of minimum reserve requirement ratios on both leu-denominated and foreign currency denominated liabilities of credit institutions.

"Disinflation is expected to continue in the period ahead, so that annual inflation rate will near the target," according to a bank press release.

"The faster disinflation while keeping the monetary policy rate unchanged and amid a moderate leu exchange rate volatility translate into a tightening of real broad monetary conditions aimed at supporting the convergence of inflation towards the medium-term objectives."

The board also noted uncertainty about developments in the world, capital flows, as well as administered and some volatile prices.

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