National Bank of Romania Cuts Interest Rates First Time Since June 2007
February 4, 2009
Romania’s central bank reduced its monetary policy rate by 25 basis points to 10.0%. A peak of 10.25% had been in place since the beginning of last August. What a difference a year makes: increasingly worried about inflation, the central bank had lifted the key rate by 100 basis points exactly one year ago today. Between the previous cyclical low of 7.0% observed from June 26 – October 1, 2007, there had been seven rate increases including one to 9% from 8% on February 4, 2008. Bank Indonesia and Norges Bank also eased monetary policy today.
Copyright 2009 Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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