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14.11.2017 15:32

Romanian central bank board members voted 8/1 to keep key rate on hold at 1.75 pct at nov. 7 meeting - Minutes

  • Board unanimously decided to maintain existing levels of minimum reserve requirement ratios on both RON- and foreign currency-denominated liabilities

  • Board decided with a majority of votes - 8 votes for, 1 vote against - to narrow the symmetrical corridor of interest rates

  • Members remark economic growth in 2017 was expected to accelerate markedly faster than previously anticipated, before slowing down more steeply in 2018 and losing momentum moderately in 2019

  • Household consumption would likely contribute more to economic growth in 2017-2018, whereas the contribution made by gross fixed capital formation could remain modest

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  • Industrial producer prices rose by 0.1% in the euro area (EA19) and by 0.2% in the EU28
  • European Commission forecasts Euro Zone inflation will accelerate to 1.6 pct y/y in 2019 from 1.5 pct y/y seen in 2018
  • UK service providers signalled a modest rebound in business activity - Markit
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