August 11, 2017 / 12:17 PM / a year ago

Romania's cenbank decision to hold rates at 1.75 pct unanimous - minutes

BUCHAREST, Aug 11 (Reuters) - Romania’s central bank board unanimously decided to keep interest rates at a record low of 1.75 percent at its Aug. 4 meeting, it said in its minutes released on Friday, highlighting risks from pro-cyclical fiscal and income policies.

“Board members judged it appropriate to leave the monetary policy stance unchanged, with a view to ensuring price stability over the medium term in a manner conducive to achieving sustainable economic growth. Specifically, the Board unanimously decided to keep the monetary policy rate at 1.75 percent.”

It said in a statement that: “Some board members considered there were strong arguments in favour of a monetary policy response from the central bank.”

“Reference was also made to the risk of a potentially higher degree of pro-cyclicality of the fiscal and income policies, coupled with a more unfavourable composition of public spending,” it added. (Reporting by Radu Marinas)

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