In the meeting of May 6, 2015, the Council of Administration of the National Bank of Romania decided the following:
– Reduce the monetary policy interest rate to 1.75 percent per annum from 2.0 percent effective May 7, 2015;
– Narrowing the symmetric corridor formed by standing facility interest rates around the policy rate to +/-1.50 percentage points from +/-1.75 percentage points. Thus, as of May 7, 2015, the interest rate on the lending facility (Lombard) will be reduced to 3.25 percent per annum from 3.5 percent, while the interest rate on the deposit facility will remain at 0.25 percent.
– Adequate liquidity management in the banking system;
– Reducing the minimum reserve ratio for credit institutions’ liabilities in lei to 8 percent from 10 percent and maintaining those applicable to liabilities in foreign currency at 14 percent as from the application period May 24-June 23, 2015.
The press release is available on the website of the National Bank of Romania at: http://www.bnr.ro/page.aspx?prid=10217
