Romania's Central Bank BNR has cut the key interest rate, bringing it to an al time low, 3.75 percent, down from 4 percent.

The BNR also decided to cut the mandatory minimum reserves for liabilities in local currency, to 12 percent, from the previous 15 percent, as well as for foreign currency liabilities, to 18 percent, from 20 percent.

The latest key interest cut in Romania happened in November 2013, when it went down from 4.25 percent, to 4 percent.

It was then the fourth time the BNR had slashed the benchmark rate in 2013. At the time, BNR governor Mugur Isarescu said there was still room for extra rate cuts, after the 1.25 percentage points drop throughout 2013.

editor@romania-insider.com