Romania's Central Bank (BNR) has slashed the key interest rate for the fourth time this year, taking it down to 4 percent after its November 5 meeting, from the previous level of 4.25 percent.

The new rate will be applicable starting November 6.

The board of BNR also approved a new quarterly report on inflation, which will be presented in a press conference on November 7.

The previous change in the interest rate was at the end of September, when it went down from 4.5 percent to 4.25 percent. Earlier in August, the BNR slashed the rate by 0.5 percentage points, from 5 percent. The first drop, of 0.25 percent, happened in July, and came after almost a year of keeping the key interest rate flat.

editor@romania-insider.com