National Bank governor Octavian Armașu said that for 2020 they will be considering the opportunity to further diminish the value of monetary policy instruments. “This opportunity refers to the creation of monetary conditions that can maintain inflation in the variation interval of ± 1.5 percentage points from the inflation target of 5% in the medium term. This way, by targeting the inflation, the National Bank aims to ensure the stability of prices,” the governor stated in a common interview for the press, IPN reports.

Octavian Armașu said the last monetary policy decision of the National Bank fully reflects the previous inflation forecast. “At the same time, I will note that the central bank for several times informed about the necessity of adjusting the monetary policy in the direction of relaxation towards the end of this year given that a reduction in inflation is expected in 2020. The decision was taken by the Executive Board by a unanimous vote and was aimed at maintaining the inflation in the variation interval of the target of 5%, which is an optimal situation for the development of the national economy,” stated the governor.

Asked if the last monetary policy decision of the NBM was influenced by external pressure, including political, or not, Octavian Armașu said all the monetary policy decisions are based on a complex analysis of the macroeconomic situation, including scenarios resulting from a number of mathematical models. “Consequently, we cannot invoke eventual political pressure. The National Bank is an independent institution and it will continue to show professionalism and to develop the financial-banking sector so as to make it more reliable,” stated the governor.