Central Bank of Romania posts 6.48% reference rate in September

BNR posted a 6.10 percent per year reference rate in August. BNR’s decision is in line with its statute and takes into account the country’s recent macroeconomic and monetary evolutions.

The reference rate is calculated taking into account the volume of transactions and the interest rates on BNR's deposit-taking and reverse-repo operations in the month prior to the announcement.

BNR lowered on May 2 its key policy rate to 7.25 percent, confirming analysts’ expectations. The bank lowered the rate by 25 percentage points from 7.50 percent. It has also maintained the minimum mandatory reserves at the current level for both leu and hard-currency reserves in a bid to counteract risks generated by a possible fiscal relaxation and widening of the current account deficit.