At its 2 November meeting, the National Bank of Romania (NBR) left the monetary policy rate unchanged at a record low of 5.25% for a fifth consecutive meeting. The move was widely anticipated by market analysts, as policy makers evaluate the impact of accelerating inflation. The Bank also left its minimum reserve requirements on both leu and foreign-exchange deposits unchanged. Regarding inflation developments, the Bank noted that the persistence of a considerable negative output gap is softening the magnitude of the unfavourable impact of higher global commodity prices and leu exchange rate movements on inflation. The Bank reiterated that the upcoming parliamentary elections in December will cause heightened uncertainty. Against this backdrop, monetary authorities aimed to anchor inflation expectations in the context of the transitory inflation bout, of heightened volatility of capital flows and the developments in exchange rates. The next policy meeting is scheduled for 7 January 2013.
Romania Monetary Policy
Central Bank stays put
November 2, 2012
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Romania Monetary Policy Chart
Note: National Bank of Romania reference rate in %.
Source: National Bank of Romania (NBR).
Romania Economic News
October 12, 2016
Industrial output expanded 5.3% in August from the same month last year, which was the fastest expansion in one year.
October 11, 2016
In September, consumer prices inched down 0.1% from the previous month, contrasting August’s 0.1% expansion.
September 14, 2016
Industrial output contracted 3.4% in July over the same month last year, which was the fastest contraction rate in almost seven years and contrasted the 1.1% expansion recorded in June.
September 9, 2016
In August, consumer prices inched up 0.1% over the previous month, rebounding from July’s 0.2% contraction.
September 6, 2016
In second quarter of 2016, the economy expanded 6.0% over the same period of the previous year, the fastest rate of growth since Q3 2008, according to detailed data released on 6 September.