Romania's C-Bank Keeps Key Rate at 10.25%

BUCHAREST (Romania), September 25 (SeeNews) - Romania's central bank, BNR, said on Thursday it decided to keep its key interest rate unchanged at 10.25%.

Analysts polled by SeeNews earlier this week said BNR was unlikely to increase its key interest rate at today's meeting, thanks to an improved inflationary outlook resulting from falling oil prices on global markets and the good crop year in Romania.

The central bank also said in a statement that it decided to continue to pursue a firm management of money market liquidity via open-market operations and to leave unchanged the existing minimum reserve requirements on both leu- and foreign currency-denominated liabilities of credit institutions.

A detailed statement will be released in three hours, BNR said.

The central bank decided to raise its key interest rate to 10.25% from 10.00% at the very end of July due to stubbornly high inflation, which topped 9% that month before slowing to 8.02% in August. It has raised its benchmark rate by a total of 2.75 percentage points since the beginning of the year.