The weak demand is due to an excess liquidity in the market, which pushed interest rates down to around 2% a year.
Last week there were no takers for the central bank’s repo auction. (EUR1=RON4.425)
Banks-Insurance
BNR Lends Just RON7M At Its Weekly Repo
Romania's central bank Monday lent 7 million lei (EUR1.6 million) to a local commercial bank via its weekly seven-day repurchasing agreement operation at an annual interest rate of 4.5%, equal to the monetary policy rate.