September 29 (SeeNews) - Romania's central bank, BNR, said on Tuesday it decided to cut its key interest rate to 8.0% from 8.5%, in line with analyst expectations.
Analysts polled by SeeNews on Monday said they expected the BNR to cut its monetary policy rate by 50 basis points to 8.0% to reflect continuing disinflation and frozen bank lending.
The central bank said in a statement it also decided to maintain the current ratios of minimum reserve requirements on both leu-denominated and foreign currency-denominated liabilities Romanian banks.
BNR said it will ensure an adequate management of liquidity in the banking sector in order to consolidate monetary policy transmission channels.
The central bank will issue a detailed statement in about three hours.
Since the beginning of the year BNR has cut the key rate four times: to 10.00% from 10.25% in February, to 9.5% in May, to 9.0% in June, and to 8.5% last month.