The bank also froze the minimum reserve requirements at 15% for Romanian-leu denominated liabilities and at 20% for foreign-currency liabilities.
Investors had hoped lower inflation would create enough room for a rate cut at Thursday’s meeting to help stimulate local lending, which has yet to recover from the global financial crisis.
Romanian consumer prices fell for the third straight month in August, on cheaper food, while the annual inflation rate eased to a 17-month low of 4.25%.
“Disinflation is expected to continue in the period ahead and the annual inflation rate will move closer to the target,” the central bank said in a statement.
It said economic recovery continued in the second quarter, albeit at a slower pace, influenced by lower risk appetite in international markets and increased uncertainties regarding the European sovereign debt crisis.
“Therefore, the central bank will gradually adjust its monetary policy stance, in line with these developments and with the evolution of Romania’s commitments assumed under the financing agreements with international institutions,” the statement noted.
The central bank targets an annual inflation of 3% at the end of 2011, plus or minus one percentage point. The bank recently revised down its forecast on year-end inflation to 4.6% from 5.1%, citing improved economic conditions and less volatile prices.
“Ensuring price and financial stability will create the background for a sustainable decline of leu-denominated loan costs, a process the central bank encourages,” the statement said.