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BUCHAREST (Romania), June 29 (SeeNews) – Romania's central bank on Wednesday said it is keeping its monetary policy rate unchanged at 6.25% for a fifth time in a row this year, in line with analyst expectations.
The central bank, BNR, has kept the rate at 6.25% since May 2010.
BNR also decided to maintain the current ratio of minimum reserves on both leu- and foreign currency-denominated liabilities, it said in a statement.
The inflation outlook continues to feature significant risks. The developments in international commodity prices, the uncertainties related to the calendar and magnitude of administered price adjustments, the movements on global financial markets in the context of the evolution of the sovereign debt crisis, as well as the possible emergence of second-round effects from the supply-side shocks seen in the recent quarters remain a matter of concern, BNR said.
“This calls for a further prudent monetary policy stance with a view to ensuring a solid anchoring of inflation expectations.”
Romania's May consumer prices rose by a monthly 0.21% and by 8.41% on the year, which was the highest inflation rate in the EU.
BNR will hold its next monetary policy meeting on August 3 when it will also issue its quarterly inflation report.