September 30, 2016 / 12:52 PM / 10 months ago

Romanian central bank ready to use all instruments to counter uncertainty

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BUCHAREST, Sept 30 (Reuters) - Romania's central bank has cut the minimum reserve requirement for commercial banks' hard currency liabilities in view of a decline in foreign currency loans and an adequate level of reserves, Governor Mugur Isarescu said on Friday.

Earlier on Friday Romania's central bank kept its benchmark interest rate on hold at 1.75 percent and announced a cut in the minimum reserve requirements of banks' hard currency liabilities to 10 percent from 12 percent.

Isarescu said the outlook had been clouded by heightened domestic and external uncertainty and that the bank stood ready to use all available instruments to counter this.

Isarescu also said the economy was not yet at a point of overheating, and that excess demand needed more analysis. (Reporting by Luiza Ilie)

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