Romania’s Central Bank (BNR) decided to increase by 1% - to 19.25 from 18.25 - BNR’s rate of the intervention interest on the inter-banking market. This decision, included in the set of measures of monetary policies taken on 6 August 2003 by BNR, after the visit to Bucharest of the IMF representatives, was expected by the commercial banks, which, over the past week, were extremely reticent in placing their liquidities. The BNR governor Mugur Isarescu said yesterday it is “modest”, but its role is to balance possible risks. “The signal given by BNR is very important,” Isarescu added. He showed that the IMF delegation had drawn up a release, which reads that Romania’s macro-economic situation is favourable in general, with a solid growth of economy and a clear disinflation process.
