National Bank of Romania
November 7, 2017
Romania’s monetary policy rate stays at 1.75%, but the overnight lending and deposit rate corridor was narrowed further with a 25-basis point cut of the former to 2.75% and a hike of the latter to 0.75% from 0.50%. A statement was released after the latest review that observes solid economic growth, a recent pickup of inflation that is now back within the target range, and a wide current account deficit. Regarding inflation the statement observes, ” compared to the previous Inflation Report, the path of the forecasted annual inflation rate has been revised markedly upwards in the short run, almost exclusively due to the recent and anticipated action of some supply-side factors, and slightly downwards over the second segment of the projection horizon.”
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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