Romania's c. bank raises key rate further
Photo by Radu Bercan/Shutterstock.com
Romania's central bank raised its monetary policy rate on Wednesday amid rampant inflation due to increased prices for electricity and natural gas caused by the war in Ukraine and the related sanctions, according to Romaniajournal.ro.
The board of the National Bank of Romania (BNR) decided to raise the benchmark rate by a full percent to 4.75% from 3.75%.
The bank also lifted the lending facility rate and the deposit facility rate from 4.75 and 2.75% to 5.75% and 3.75%, respectively. Previously, the bank raised its interest rates by 75 basis points on May 10.
At the same time, BNR agreed to maintain firm control over money market liquidity and to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
In June, Romania's inflation accelerated to 14.5% in June from 13.8% in May.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
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.
