Romania's central bank cuts key rate to record low

08:37, May 05, 2010      

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Romania's National Bank on Monday decided to lower its monetary policy rate to a record low of 6.25 percent from 6.5 percent previously.

It is the fourth cut of key rate this year and is applicable starting Wednesday.

The central bank decided to maintain the existing levels of minimum reserve requirement ratios on both leu-denominated and foreign currency-denominated liabilities of credit institutions.

It also decided to keep the current levels of the minimal mandatory reserve rates on both the national currency and foreign exchange deposits.

In 2009, the central bank lowered the benchmark rate five times from 10.25 percent in January to 8 percent in September in an effort to revive the country's ailing economy.

Source:Xinhua

(Editor:黄蓓蓓)

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