“We wouldn’t want to disturb other factors by moving the monetary policy rates,” Isarescu told a news conference.
The central bank last week lowered its main interest rate by a quarter of a point to a record low of 6% a year, the first cut in a year and a half.
Analysts were split between hopes that the decision would signal the beginning of a more relaxed monetary policy cycle and estimations that the rate cut was in fact a singular measure on the short term.
“Both (theories) are correct, because the central bank’s monetary policy considers several factors beside the interest rate, including the minimum reserve requirements and the exchange rate… But if you look only at the loan rate, then yes, there is substantial scope for further easing,” Isarescu said.
The central bank’s head reiterated his belief that the lower interest rate will gradually reflect in reduced bank rates on both consumer loans and deposits.