BNR brings interest rate to 6.5%

The Romanian Central Bank (BNR) has slashed the key interest rate by another 0.5 percent, down to 6.5 percent, it has announced. The BNR administration council has also decided to keep the level of mandatory reserves to 15 percent for passives in Romanian currency and to 25 percent for foreign currency. This is the third consecutive cut of the key interest rate this year, which started at 8 percent at the beginning of the year. This is also the lowest level of the rate in Romania.