Interest Rate in Romania

Romania Interest Rate | Economic News & Forecasts

Romania - Interest Rate

Central Bank stays put in April

At its monetary policy meeting held on 2 April, the National Bank of Romania (NBR) kept the policy rate unchanged at 2.50%. The Bank also left the deposit facility rate unchanged at 1.50%, the lending facility (Lombard) rate at 3.50% and the reserve requirement on both leu- and foreign-currency denominated liabilities unaltered.

The Bank’s decision to hold came amid a surprise rise in inflationary pressures. After remaining stable at 3.2% in January, inflation jumped to 3.8% in February, overshooting the NBR’s 1.5%–3.5% target range and its own forecast. Similarly, core inflation accelerated to 2.7% in February (January: 2.5%), due to both demand-pull and wage-push pressures. Against this backdrop, the Bank noted that inflation will remain above its target band over the short-term and will follow a higher path than that projected in its February meeting forecasts. It also highlighted the upside risks to its inflation outlook, deriving mainly from the country’s rising fiscal and current account deficits, and a tightening labor market.

Given the presence of inflationary risks, the Bank signaled tighter policy ahead. It was not specified, however, whether that would come in the form of stricter liquidity management and/or further rate hikes.

The next monetary policy meeting is scheduled for 13 May.

Met the why particular Consensus Forecast panelists expect the policy rate to end 2019 at 2.79% and 2020 at 3.19%.

Romania - Interest Rate Data

2013  2014  2015  2016  2017  
Policy Interest Rate (%)4.00  2.75  1.75  1.75  1.75  

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Romania Interest Rate Chart


Romania Interest Rate
Note: Reference rate in %
Source: National Bank of Romania.

Romania Facts

ValueChangeDate
Bond Yield5.030.23 %May 13
Exchange Rate4.24-0.34 %May 13
Stock Market8,165-0.59 %May 13

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