Central bank sets January's reference interest rate at 8 pct per annum

The reference interest rate for January 2010 was set at 8 percent per annum, informs the National Bank of Romania (BNR).

The formula for the calculation of the BNR reference rate is defined as the arithmetic mean (weighted by the volume of transactions) of interest rates on deposits taken by the BNR as well as reverse repo and repo transactions in the month prior to the one the release was made. The reference interest rate, calculated and published every month, is a market interest and should not be confounded with the monetary policy interest rate.

The reference interest rate has gradually decreased in 2009 from 10.25 percent in January to 10.14 percent in March, 10.07 percent in April, 10.02 percent in May, 9.71 percent in June, 9.5 percent in July, 9 percent in August, 8.53 percent in September, 8.5 percent in October and eight percent in November.

Agerpres