Analysts: NBR will keep its interest rate unchanged at 6.25% this time, too
The National Bank will keep its RON benchmark rate at the
current level of 6.25% per annum and will not operate any change in
terms of minimum reserves, either during its Wednesday monetary
policy session, analysts believe.
Worries about an inflation outburst in autumn triggered by the
raised public transportation tariffs and the delayed effect of the
VAT hike, are likely to prevent the central bank from making any
moves this time, too.
The benchmark interest rate has not been modified since May, when a
small reduction, by a quarter of a percentage point, was
operated.
The NBR has taken advantage of the still period on the forex
market, where there are no more downward pressures on the RON, and
has left more liquidity on the monetary market, which has pushed
interest rates down. Thus, even for longer maturities, of one or
three months, interest rates have now gone down below 5% per annum.
Banks lend to each other for very short periods at interest rates
of 2-3% per annum. However, political unrest is likely to change
things.