Romania's C. Bank Keeps Interest Rate Unchanged

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Romania's central bank kept its key monetary policy rate unchanged at 7% for the fourth consecutive meeting in July, in line with market expectations and following 575 basis point of hikes from October 2021.

The National Bank of Romania also decided to maintain the lending facility and deposit facility rates at 8% and 6%, respectively.

Annual inflation rate in Romania fell to 10.64% in May from 11.23% in April and 14.53% in March, mainly driven by a stronger downward trend in fuel and energy prices, as well as lower crude oil prices and capping schemes for prices of electricity and natural gas.

Based on its current assessment, the central bank sees the annual inflation rate continuing to fall over the following months, in line with the latest medium-term forecast, primarily under the influence of base effects and the downward corrections of some commodity prices in the previous quarter. 

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