National Bank of Romania increases monetary policy rate to 3.75% from 3%

by   CIJ News iDesk V
2022-05-11   06:56
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The Board of Directors of the National Bank of Romania decided on Tuesday to increase the monetary policy interest rate to 3.75 percent per year, from 3 percent per year previously, starting with May 11, 2022.

At the same time, the representatives of the institution decided to increase the interest rate for the credit facility (Lombard) to 4.75 percemt per year, from 4 percent, and to increase the interest rate for the deposit facility to 2.75 percent, from 2 percent per year.

"The Board of Directors of the National Bank of Romania, meeting today, May 10, 2022, decided the following: increase the monetary policy interest rate to 3.75 percent per year, from 3.00 percent per year , starting May 11, 2022, raising the interest rate for the credit facility (Lombard) to 4.75 percent per year, from 4.00 percent per year and raising the interest rate on the deposit facility to 2.75 from 2.00 percent per year, starting May 11, 2022, maintaining firm control over money market liquidity, maintaining current levels of minimum required reserve ratios for RON and foreign currency liabilities of credit institutions," says the NBR press release.