Negritoiu, ING: Monetary Policy Is Like High Blood Pressure. It Doesn’t Hurt, But Can Kill You

07.12.2011 By Razvan Voican

The Romanian central bank (BNR) has long been talking about discouraging euro-denominated loans after letting them become dominant, but is not taking concrete steps to encourage the use of lei in the economy. It is not reducing the minimum reserve requirements on leu-denominated liabilities, the First Home government scheme is not exclusively in lei, much too few long-maturity leu-denominated securities are issued and there seems to be no connection between the central bank’s benchmark rate and market rates, says Misu Negritoiu, chief executive officer of ING Bank Romania.

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