By Emea Riga
The Board of Directors of the National Bank of Romania (BNR) on Wednesday's meeting decided to keep unchanged the monetary policy rate at 2.50 percent per annum, according to a press release.
The BNR board also decided to keep unchanged the interest rate for the deposit facility at 1.50 percent per annum and the interest rate corresponding to the lending facility at 3.50 percent and also to maintain the existing levels of the minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit.
BNR reminds in context that the annual rate of the CPI (Consumer price index) inflation has evolved throughout the first two months of Q3 in line with estimates. It decreased in July to 4.56 percent, from 5.4 percent the previous month, due to the influence of demand factors and of basic effects, the main influences being attributed to the slowing down of the increase rhythm of the administered prices and the prices of fuels. The acceleration of the rise in annual terms of the fruit and vegetable prices moved in the opposite direction.
In August the inflation annual rate went up to 5.06 percent.
The monthly average CPI inflation rate reached 3.9 percent in July and 4.2 percent in August, from 3.6 percent in June. Calculated based on the harmonised index of consumer prices, the average annual rate stood at 3.2 percent in July and 3.5 percent in August, from 2.9 percent in August.