The Board of Romania's Central Bank (BNR) decided to lower the monetary policy rate again by 0.25% to 2%, achieving a new historic low which came into effect on 1 April.
Additionally, BNR decided to narrow the symmetrical corridor of interest rates on its standing facilities around the policy rate to ±1.75 percentage points from ±2.00 percentage points. Consequently, starting with 1 April, the interest rate on the BNR’s lending facility (Lombard) was lowered to 3.75% per year from 4.25%, while the deposit facility rate remains at 0.25% per year, according to a media release.
As regards the minimum reserve requirement ratios on liabilities of credit institutions, the BNR Board left the current levels unchanged: 14% for foreign currency-denominated liabilities and 10% for lei-denominated currency liabilities.
Contact:
Irina Savastre
Head of Global Securities Services Romania
irina.savastre@unicredit.ro