Central bank slashes key interest rate to 3% per year, minimum reserve rate in lei to 10%

The Board of the National Bank of Romania (BNR, the central bank) decided on Tuesday to cut the key interest rate to 3% per year, from 3.25%, as of October 1, 2014, and also to slash the mandatory minimum reserve rate applicable to the lei liabilities of credit institutions to 10% from 12%, as of the enforcement period October 24 to November 23, 2014, reads a BNR release.

On the other hand, the BNR has decided to maintain the mandatory minimum reserve rate applicable to foreign exchange liabilities at 16%. AGERPRES