Romanian central bank lowers rates

Romania's central bank has announced that it has lowered its key interest rate by 0.5 percentage points to 18.25%.

"Despite past months' price rises, which have been higher than initial estimations, the year-on-year consumer price index has fallen from 14.1% in December 2003 to 11.1% in September 2004, and to validate such process, the central bank board has decided to lower the key rate by 0.5 percentage points to 18.25%," the bank said.

The central bank added that the strengthening of monetar

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