The National Bank will keep its RON benchmark rate at thecurrent level of 6.25% per annum and will not operate any change interms of minimum reserves, either during its Wednesday monetarypolicy session, analysts believe.
Worries about an inflation outburst in autumn triggered by theraised public transportation tariffs and the delayed effect of theVAT hike, are likely to prevent the central bank from making anymoves this time, too.
The benchmark interest rate has not been modified since May, when asmall reduction, by a quarter of a percentage point, wasoperated.
The NBR has taken advantage of the still period on the forexmarket, where there are no more downward pressures on the RON, andhas left more liquidity on the monetary market, which has pushedinterest rates down. Thus, even for longer maturities, of one orthree months, interest rates have now gone down below 5% per annum.Banks lend to each other for very short periods at interest ratesof 2-3% per annum. However, political unrest is likely to changethings.
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