The accusation that the National Bank is pressuring banks in relation to the Romanian Interbank Offered Rate (ROBOR) index is nonsense, Governor of the National Bank of Romania (BNR) Mugur Isarescu stated on Tuesday, mentioning the interest rate is the main instrument of the monetary policy.
"Ask him [Eugen Teodorovici, Finance Minister, ed.n.] what he meant to say. I don't know what he intended to say, but I can make a comment here. What pressure? This is our instrument after all. We are not putting any pressure. If a problem arises we move the interest rate up and down as we have done before. It is the main instrument of the monetary policy. So us putting pressure is purely nonsense. What pressure could we possibly put?!" Isarescu said when asked about Finance minister's accusation that BNR is aggressively pressuring banks not to lower ROBOR.
The governor mentioned having heard "in the market" about Finance Minister Eugen Teodorovici's invitation of discussing this situation at the ministry, just as the head of Finance announced having heard "in the market that BNR is aggressively pressuring banks" not to lower ROBOR.
"I don't know, I haven't heard, or I have heard, so to speak, in the market, but these discussions are not to be carried out as chit chat, on TV, no. We haven't received any document yet," Isarescu affirmed.
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Moreover, he said it is not the independence of the central bank that will be affected by the new tax, but the flexibility and efficiency of the monetary policy "which, to spell it out, will not help the Government."
AGERPRES .
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