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

Romania's c-bank holds key rate at 2.50% National Bank of Romania. Author: Gabriel. Licence: Creative Commons, Attribution.

BUCHAREST (Romania), January 8 (SeeNews) - Romania's central bank said on Wednesday it has decided to 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 year and the lending facility rate at 3.50% per per, 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 3.77% year-on-year in November, compared to an increase of 3.4% in the previous month, the national statistical office has said.

On November 8, Romania's central bank said it has decided to lower its 2019 inflation forecast to 3.8% from 4.2% predicted in August, outside its target band of 1.5-3.5%. BNR has also lowered its projection for 2020 inflation to 3.1% from 3.4%.

(1 euro=4.7776 lei)