Romania: Central Bank remains cautious
January 7, 2013
At its 7 January meeting, the National Bank of Romania (NBR) left the monetary policy rate unchanged at a record low of 5.25% for a sixth consecutive meeting. The move was widely anticipated by market analysts, as policy makers continue to evaluate the impact of accelerating inflation. The Bank also left its minimum reserve requirements on both leu and foreign-exchange deposits unchanged.
Regarding inflation developments, the Bank noted that "prospects remain favourable for the annual inflation rate to return inside the target band by the end of the year". Against this backdrop, monetary authorities aimed to "anchor inflation expectations and pave the way for the annual inflation rate to near the medium-term target." The next policy meeting is scheduled for 5 February.