Romania Central Bank Slashes Key Policy Rate As Expected

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Tuesday, Romania's central bank lowered its key policy rate by 50 basis points to 8.5%.The reduction was in line with economists' expectations. In June, the bank had reduced its key interest rate to 9% from 9.5%.

At the same time, the bank slashed the minimum reserve requirements ratio on foreign currency commercial deposits to 30% from 35%, effective on August 24.

The Board of the National Bank of Romania also decided to actively use open-market operations in order to ensure an adequate management of liquidity in the banking system.

Tuesday, Romania's central bank lowered its key policy rate by 50 basis points to 8.5%.The reduction was in line with economists' expectations. In June, the bank had reduced its key interest rate to 9% from 9.5%. (Market News Provided by RTTNews)