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CORRECTED-Romania central bank holds key rate, narrows deposit/lending rate corridor
November 7, 2017 / 11:43 AM / 15 days ago

CORRECTED-Romania central bank holds key rate, narrows deposit/lending rate corridor

(Corrects date in paragraph 2 to Nov. 8)

BUCHAREST, Nov 7 (Reuters) - Romania’s central bank left its benchmark interest rate unchanged at a record low 1.75 percent on Tuesday, as expected, and further narrowed the corridor between its deposit and lending rates.

The symmetrical corridor between the two rates will fall to 1.00 percent as of Nov. 8, from the current 1.25 percent, which is expected to affect interbank money market rates and also increase the effectiveness of its benchmark rate.

Romanian consumer price inflation rose to 1.8 percent on the year in September, from August’s 1.2 percent, above market expectations.

The central bank targets inflation at 1.5 to 3.5 percent this year and next. Governor Mugur Isarescu is expected to provide details on the decision from 1300 GMT. (Reporting by Radu Marinas, edited by Larry King)

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