Thursday, May 7, 2009

Romanian cbank cuts rates by 50 bps to 9.50 pct

BUCHAREST, May 6 (Reuters) - Romania's central bank cut its key interest rate by 50 basis points to 9.50 percent on Wednesday, the second cut so far this year, as the economy suffers from global financial turmoil.

Ten out of 13 banks polled by Reuters earlier this week expected the central bank to cut rates by at least a quarter of a percent, as the consensus showed the economy likely to contract by 2.5 percent in the first quarter.

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