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Romania's c-bank holds key rate at 2.50%

Romania's c-bank holds key rate at 2.50% Romania's central bank - BNR

BUCHAREST (Romania), July 4 (SeeNews) - Romania's central bank said on Thursday it will keep its monetary policy rate unchanged at 2.50%.

The central bank, BNR, also decided to maintain the deposit facility rate at 1.50% per annum and the lending facility rate at 3.50% per annum, it said in a statement after a board meeting on monetary policy.

BNR also decided to maintain the existing ratios of minimum reserve requirements for both leu- and foreign currency-denominated liabilities of banks.

The central bank last changed its key rate in May last year, increasing it to 2.50% from 2.25%, the third rate hike in 2018.

Romania's consumer prices rose by 4.1% year-on-year in May, the same rate of increase recorded in the previous month, the national statistical office has said.

In May, Romania's central bank (BNR) raised its annual inflation forecast for 2019 to 4.2% from 3%, outside its target band of 1.5-3.5%.

On Wednesday, Romania's parliament backed a proposal to appoint central bank governor Mugur Isarescu for another term in office.

(1 euro=4.7240 lei)