Wednesday, April 1, 2009

Romanian cbank says prudent policy needed

BUCHAREST, March 31 (Reuters) - Romania's central bank said on Tuesday recent economic data necessitated prudent monetary policy, while balanced macroeconomic policies required by an IMF-led aid package should allow for 'gradual' monetary policy adjustment.Earlier on Tuesday, the bank decided to keep interest rates at 10 percent during a regular policy meeting, while easing reserve rules for banks.

The bank kept the minimum reserve ratio on leu liabilities and foreign-denominated liabilities of up to 2 years, but it removed its requirement for foreign-denominated liabilities with residual maturities of over 2 years.

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