Romania C. Bank Raises Rates Further

Banking

Photo by Radu Bercan/Shutterstock.com

Romania's central bank hiked the key policy rate on Wednesday, for the ninth session in a row, in a bid to rein in inflation and to support the economy.

The Board of the central bank decided to increase the monetary policy rate to 6.25% from 5.%, the National Bank of Romania (NBR) said in a statement.

The central bank also lifted the lending facility rate (Lombard) to 7.25% from 6.5% and the deposit facility rate to 5.25% from 4.5%. Policymakers also reaffirmed their decision to maintain firm control over money market liquidity.

Annual inflation resumed its acceleration in August, climbing to 15.32%, marginally above the forecast, after having fallen to 14.96% in July, from 15.05% in June. The increase was almost entirely driven by the continued hike in food prices.

ADVERTISEMENT

Avg Compulsory Vehicle Insurance Premium up 5% Figures

Avg Compulsory Vehicle Insurance Premium up 5%

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

4iG, Rheinmetall Establish IT JV Deals

4iG, Rheinmetall Establish IT JV

24th FIABCI Hungarian Prix d’Excellence Held Awards

24th FIABCI Hungarian Prix d’Excellence Held

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.