CHALLENGES FOR ROMANIAN MONETARY POLICY
CHALLENGES FOR ROMANIAN MONETARY POLICY

Summary/Abstract: The Romanian monetary policy orientation considers the commitments assumed by the Romanian authorities in the process of preparing the adaptation to EURO currency. A challenge for the Romanian monetary policy is strengthening the pace of disinflation necessary to achieve the annual inflation targets. This involves lowering the inflation rate, over medium term, to the levels compatible with the definition of price stability. Actually, maintaining the prices is the fundamental objective of the Central Bank. The monetary policy promoted by the National Bank of Romania has a restrictive character. Direct and indirect instruments of monetary policy mainly aim: interest rate, minimum bank reserve requirements, open market operations and refinancing mechanisms.

• Details
• Contents