Romania Central Bank Keeps Key Rate Unchanged At 6.25%

Romania’s central bank Tuesday left its main interest rate at a record low of 6.25% a year for the eighth straight time, after costlier fuels and food items pushed the inflation rate to the highest in 31 months.

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The bank also froze the minimum reserve requirements at 15% for Romanian-leu denominated liabilities and at 20% for foreign currency liabilities.

Romanian annual inflation accelerated to 8% in March, the highest rate since August 2008.

The central bank targets an annual inflation of 3% at the end of 2011, plus/minus one percentage point around the band. The bank has recently revised upward its forecast on the annual rate to 3.6% in December, and hinted at another negative revision at its quarterly inflation report due May 5.

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