The National Bank of Romania raised its benchmark interest rate by 25bps to 1.75% at its November meeting, falling short of market expectations of a 50 bps hike. The deposit rate was kept at 1% and the lending facility rate was raised by 50 bps to 2.50%.The bank said it will maintain firm control over money market liquidity as the inflation rate continues to run above forecasts, with most of Q3 inflationary pressures being exogenous, namely energy and vegetable prices. Policymakers expressed concern about the inflation outlook, warning it worsened further, leading to a considerable upward revision of the forecasted path of the annual inflation dynamics. The Board now sees consumer prices on a steep upward trajectory until mid-2022, amid supply side shocks and high energy prices. Meanwhile, the economy is expected to experience an acceleration in Q3, underpinned by strong agricultural output, while the annual dynamics are seen growing at a slower pace. source: National Bank of Romania

Interest Rate in Romania averaged 4.91 percent from 2005 until 2021, reaching an all time high of 12.50 percent in May of 2005 and a record low of 1.25 percent in January of 2021. This page provides the latest reported value for - Romania Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Romania Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Interest Rate in Romania is expected to be 1.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Romania Interest Rate is projected to trend around 2.50 percent in 2022 and 3.00 percent in 2023, according to our econometric models.

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Romania Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-06 11:30 AM 1.25% 1.25% 1.25% 1.25%
2021-10-05 12:00 PM 1.5% 1.25% 1.5% 1.25%
2021-11-09 01:00 PM 1.75% 1.5% 2% 2%
2022-01-10 01:00 PM 1.75%


Related Last Previous Unit Reference
Interest Rate 1.75 1.50 percent Nov/21
Money Supply M1 388793.60 382997.40 RON Million Oct/21
Money Supply M0 95722.30 94905.90 RON Million Oct/21
Money Supply M2 542910.70 535908.30 RON Million Oct/21
Money Supply M3 542910.70 535908.30 RON Million Oct/21
Foreign Exchange Reserves 44984.10 46187.00 EUR Million Oct/21
Banks Balance Sheet 662260.93 654726.07 RON Million Oct/21
Lending Rate 2.50 2.00 percent Nov/21
Deposit Interest Rate 1.00 1.00 percent Nov/21
Central Bank Balance Sheet 244655.50 251855.66 RON Million Oct/21
Cash Reserve Ratio 5.00 5.00 percent Sep/21
Loans To Private Sector 107702.00 107564.30 RON Million Jul/18

News Stream
Romania Hikes Key Interest Rate by Less than Expected
The National Bank of Romania raised its benchmark interest rate by 25bps to 1.75% at its November meeting, falling short of market expectations of a 50 bps hike. The deposit rate was kept at 1% and the lending facility rate was raised by 50 bps to 2.50%.The bank said it will maintain firm control over money market liquidity as the inflation rate continues to run above forecasts, with most of Q3 inflationary pressures being exogenous, namely energy and vegetable prices. Policymakers expressed concern about the inflation outlook, warning it worsened further, leading to a considerable upward revision of the forecasted path of the annual inflation dynamics. The Board now sees consumer prices on a steep upward trajectory until mid-2022, amid supply side shocks and high energy prices. Meanwhile, the economy is expected to experience an acceleration in Q3, underpinned by strong agricultural output, while the annual dynamics are seen growing at a slower pace.
2021-11-09
Romania Raises Interest Rates by 25bps
The National Bank of Romania raised its benchmark interest rate by 25bps to 1.5% at its October meeting, as expected, for the first time since 2018. The bank said it will maintain firm control over money market liquidity as short-term inflation will be significantly higher than previous forecasts under the impact of supply-side shocks, in particular larger hikes in energy prices. The move aims to bring back and maintain the annual inflation rate, which is projected to climb 5.6% by year-end, in line with the 2.5% ±1 percentage point flat inflation target, in a manner conducive to achieving sustainable economic growth in the context of the fiscal consolidation process, while safeguarding financial stability. Both the deposit and lending facility rates increased by 25bps to 1% and 2%, respectively. Furthermore, the NBR Board decided to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
2021-10-05
Romania Holds Key Interest Rate at 1.25%
The National Bank of Romania kept its benchmark interest rate at 1.25 percent during its August 2021 meeting, as expected but said it will preserve tight control over money market liquidity as short-term inflation will be considerably higher than previously forecast. The move aims to preserve price stability over the medium term in line with the 2.5 percent ±1 percentage point flat inflation target, in a manner conducive to achieving sustainable economic growth in the context of the fiscal consolidation process, while safeguarding financial stability. The deposit and lending facility rates were kept unchanged at 0.75 percent and 1.75 percent, respectively. Furthermore, the NBR Board decided to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
2021-08-06

Romania Interest Rate
In Romania, interest rates decisions are taken by the Board of the National Bank of Romania (Banca Nationala a Romaniei). The official interest rate is the Policy Rate.