Romanian central bank raises interest rate to 5.5%

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    The Board of Directors of the National Bank of Romania at its meeting on monetary policy on August 5 raised the base rate by 75 basis points to 5.5%.

    In addition to the key interest rate, the Lombard loan rate was increased by 75 basis points to 6.5%. The deposit rate was also increased by 75 basis points to 4.5%.

    The last time the Central Bank of Romania made changes to the key interest rate at the beginning of July. Then he raised it immediately by 100 basis points – from 3.75% to 4.75%.

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    Now most analysts were expecting a 100 basis point increase, but there were also forecasts of 75 basis points. Analysts expect the Central Bank’s board of directors to raise the key interest rate in Romania to 6.25% by the end of the year.

    Romania’s annual inflation rate accelerated to 15.1% in June from 14.5% in May. The central bank expects inflation to be 12.5% ​​at the end of the year and 6.7% at the end of 2023.

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