“Romania is not in (euro-zone’s) situation, we don’t do quantitative easing, we don’t force anyone to buy state bonds,” Isarescu told a banking conference Tuesday.
“We allowed some liquidity in the market, but our intention is not to maintain the surplus of cash on the long term, as it is not beneficial.”
The governor said central banks all over the world had to adapt, and adopt unconventional measures in the past years.
In early May, the central bank lowered the leu-deposit reseve ratio to 8% from 10%, while simultaneously cutting the main interest rate by 25 basis points to a record low 1.75%. The minimum requirement for hard currency deposits remained unchanged at 14%.
The move freed up some 3 billion lei (EUR675 million), according to Isarescu’s previous statements.