National Bank of Romania

National Bank of Romania Leaves Policy Stance Unchanged

November 4, 2016

The last change of Romania’s monetary policy rate was a 25-basis point cut in May 2015 that culminated a string of nine such reductions since the start of 2014. A statement released after the NBR’s latest review notes that CPI inflation will probably not rise above zero until early 2017 but projected a further increase […] More

National Bank of Romania

September 30, 2016

Officials at NBR consider monetary conditions appropriately stimulative. While today’s policy statement observes elevated uncertainties and notes that the latest on-year changes in total consumer prices and core components of the index are only -0.2% and +0.5%, the baseline outlook for inflation is a sanguine picture: Recent assessments reconfirm the outlook for the annual inflation […] More

National Bank of Romania’s Main Interest Rate Kept at 1.75%

August 4, 2016

Romania’s last four interest rate cuts totaling one percentage point were implemented during the first five months of 2015. Economic growth is performing well, exceeding 4.0% at an annual rate in the first quarter of 2016. However, inflation is still negative and expected to remain so until the end of this year “before returning inside the […] More

National Bank of Romania Keeps 1.75% Interest Rate but Flags Risks

June 30, 2016

Romania’s policy interest rate has been 1.75% since a 25-basis point cut in May 2015 that culminated 350 basis points of reduction over the prior two years.  A statement released after the central bank Board’s latest policy review highlighted new downside risks to be monitored.  “Banca Naţională a României the external environment is marked by […] More

National Bank of Romania

May 5, 2016

Romania’s reserve requirement and monetary policy interest rate of 1.75% were not changed at the May meeting of the central bank board.  A released statement projected continuing negative CPI inflation (-3.0% in May) until July 2016 and rising thereafter in positive territory up to the upper half of the targeted corridor and reaching the peak […] More

National Bank of Romania

March 31, 2016

Romania’s monetary policy rate was cut 125 basis points in the second half of 2013, another 125 basis points during 2014, and a full percentage point in four moves during the first five months of 2015.  Those actions reduced the rate from 5.25% to its present level of 1.75%.  Today’s statement kept 1.75%, but a […] More

National Bank of Romania

January 7, 2016

Romania’s central bank Board left the monetary policy interest rate at 1.75%, a record low and the level since a cut last May.  The reserve requirement was lowered by two percentage points to 12.0%, and a released statement  Observed that inflation remains negative versus a 1.5-3.5% target. Projected that “the annual inflation rate will return […] More

National Bank of Romania

November 5, 2015

Romania’s record low 1.75% monetary policy rate was not changed at the last scheduled meeting of 2015.  The rate had been at 3.25% when the Board met in September 2014 and authorized a cut of 25 basis points.  Five more such reductions followed over the ensuing eight months to the present level.  The Board released […] More

National Bank of Romania

September 30, 2015

Romania’s monetary policy rate will remain at 1.75%.  Four 25-basis point cuts were undertaken this year by May 6 on top of 125 basis points of reduction last year.  CPI inflation was just 0.3% last month, well below target.  A released statement speaks of balancing the prospect of more disinflation in the near term with […] More

National Bank of Romania

August 4, 2015

Romania’s central bank benchmark interest rate of 1.75% was not cut despite a drop in inflation caused by recent fiscal changes including reduced value added tax.  Today’s statement explains, “the strengthening over the short term of the transitory disinflationary impact exerted by the aforementioned fiscal measures masks the build-up of medium-term inflationary pressures, given the […] More