BNR's BD may have an emergency meeting

"We have said before, even two weeks ago, that this is a possibility. It is very likely that BNR will raise the rate before year-end. Moreover, this would be a much better solution for the depreciation of the leu than a direct intervention on the market," Otilia Ciotau, Chief Economist of Piraeus Bank, told Business Standard.

Ciprian Dascalu, Chief Analyst of Millennium Bank, said the BNR meeting could take place by 7 January. "BNR might raise the interest rate in an extraordinary meeting, by 7 January," Dascalu told Business Standard.

BNR officials do not rule out the possibility that such a meeting could take place, but cannot confirm a specific date. "I know nothing at this time, neither whether it will take place, nor when. The meeting you mentioned is possible, as it would not be an international precedent," said Lucian Croitoru, Advisor to BNR Governor Mugur Isarescu.