The national currency may depreciate in the next period, after the analysts expected a key interest rate rise, and when they are disappointed they can react, the Governor of the National Bank of Romania (BNR), Mugur Isarescu said on Wednesday.
He said that a 4% current account deficit in GDP is not a "magic figure," but it is a figure in the dashboard and it is not good to go beyond it, because it means you are very dependent on foreign investors, the capitals that come in and which "as they come in they can also come out".
The BNR governor mentioned that not only BNR answer the question about the impact of the central bank's decision to keep the key interest rate on the exchange rate because it is also about the way the internal and external markets perceive Wednesday's decision.
"We have a message to the markets. There is a rather consistent interest rate differential in favor of the leu, I think it is covering, we'll see what the markets are saying," the head of the central bank said.
He argues that after the last monetary policy decision, one felt a slight appreciation tendency of the leu.
At the same time, Isarescu said that the key interest increases have not yet consumed their effect, and that we can expect increases in interest rates in terms of deposits.
The BNR Board of Directors decided on Wednesday to keep the monetary policy interest rate at the level of 2.25% per annum.
AGERPRES .
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