Romanian central bank announces second rate cut in 2014
Bucharest - XINHUA
The National Bank of Romania on Tuesday decided to lower the rate of the monetary policy interest to 3.5 percent from 3.75 percent, starting on February 5. It is the second cut in this year, after the previous rate change announced on January 8. The bank also decided in its Tuesday meeting to maintain the minimum mandatory reserve rate applicable to the liabilities in the national leu currency and foreign currency of the lending institutions The central bank cut the benchmark rate 18 times from 10.25 percent in January 2009 to 3.75 percent on January 2014.
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