Romania's finance minister Florin Citu plans to attend the monetary policy meetings held by Romania's National Bank (BNR) to express his ministry's position about further monetary policy rate cuts, Ziarul Financiar reported.

Citu made the announcement in a press conference dedicated to the third budget revision made this year.

In its latest monetary policy meeting on November 12, BNR's board maintained the monetary policy rate at 1.5%.

Romania still has resources to use interest rate cuts and liquidity injections to stimulate the real economy sector, minister Florin Citu had said in an interview with Radio Guerrilla on October 28.

Romania's central bank (BNR) cut its monetary policy rate by 25bp from 1.75% to 1.50% at its August 5 monetary policy meeting, the second rate cut since the start of the coronavirus pandemic after a similar move at the end of May. Before the state of emergency, BNR had cut the monetary policy rate from 2.5% to 2%.

The finance minister can participate in the BNR's monetary policy meetings as an observer. He does not have the right to vote.

iulian@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)