attained last year.
“Statistic evaluations indicate a strengthening of the disinflation process, which is to reflect in the reduction of the average annual inflation rate to a 5 per cent level,” shows a press release submitted to our editorial office by the BNR Administration Board. The Central Bank informs that the annual inflation rate decreased more rapidly than anticipated, being situated at 3.81 per cent in February, against 4.01 per cent in the previous month, 4.87 per cent in December 2006 and 8.49 per cent in February 2006.
Monetary policy interest rate reaches 7.5 pc
The BNR Administration Board cut down the monetary policy interest rate by 0.5 points to a yearly 7.5 per cent level, after reducing it by 0.75 points in the February 9 session - thus bringing the yearly interest from 8.75 to 8 per cent. BNR also says that the economy sustained a high growth rate of 7.7 per cent, backed by an amplification of investments and consumption expansion - while excess demand determined the deepening of the current account deficit. “In the monetary area, the moderation of nongovernmental loan dynamics (for the fifth consecutive month) is noteworthy, as national currency loans slowed down their growth rate and foreign currency loans registered a slight recovery,” the BNR Board mentions.
|