The central bank of Romania raised its key monetary policy rate by 75bps to 5.5% on August 5th, 2022, the seventh consecutive rate hike, pushing the borrowing costs to the highest since February 2012. The move surprised markets that were expecting a 100bps hike. In Romania, inflation accelerated past 15% in June, the highest since 2003 as higher prices of processed food and fuel more than offset by the drop in VFE prices. At the same time, policymakers expect Romania’s economy to enter a broad stall in Q2 and Q3 amid the impact of the war in Ukraine. The bank confirmed strong annual growth in Romania’s GDP during Q1, rising at 6.4% with strong support from private consumption. The Lombard rate and the deposit facility rate were raised by the same magnitude to 6.5% and 4.5%, respectively. source: National Bank of Romania

Interest Rate in Romania averaged 4.84 percent from 2005 until 2022, 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 August of 2022.

Interest Rate in Romania is expected to be 5.50 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 6.75 percent in 2023, according to our econometric models.

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Romania Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-10 12:00 PM 3.75% 3% 3.5% 3.5%
2022-07-06 10:00 AM 4.75% 3.75% 4.5% 4.25%
2022-08-05 12:00 PM 5.5% 4.75% 5.75% 5%


Related Last Previous Unit Reference
Interest Rate 5.50 4.75 percent Aug 2022
Money Supply M1 406676.20 404691.20 RON Million Jun 2022
Money Supply M0 98209.00 98477.90 RON Million Jun 2022
Money Supply M2 569291.70 569421.40 RON Million Jun 2022
Money Supply M3 569291.70 569421.40 RON Million Jun 2022
Foreign Exchange Reserves 48518.90 47823.00 EUR Million Jul 2022
Banks Balance Sheet 721695.84 705330.57 RON Million Jun 2022
Lending Rate 5.75 4.75 percent Jul 2022
Deposit Interest Rate 3.75 2.75 percent Jul 2022
Central Bank Balance Sheet 277531.82 269266.86 RON Million Jun 2022
Cash Reserve Ratio 5.00 5.00 percent Mar 2022
Loans To Private Sector 107702.00 107564.30 RON Million Jul 2018

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.50 4.75 12.50 1.25 2005 - 2022 percent Daily

News Stream
Romania Raises Rate by Less than Expected
The central bank of Romania raised its key monetary policy rate by 75bps to 5.5% on August 5th, 2022, the seventh consecutive rate hike, pushing the borrowing costs to the highest since February 2012. The move surprised markets that were expecting a 100bps hike. In Romania, inflation accelerated past 15% in June, the highest since 2003 as higher prices of processed food and fuel more than offset by the drop in VFE prices. At the same time, policymakers expect Romania’s economy to enter a broad stall in Q2 and Q3 amid the impact of the war in Ukraine. The bank confirmed strong annual growth in Romania’s GDP during Q1, rising at 6.4% with strong support from private consumption. The Lombard rate and the deposit facility rate were raised by the same magnitude to 6.5% and 4.5%, respectively.
2022-08-05
Romania Hikes Rate by More than expected 100 bps
The central bank of Romania raised its key monetary policy rate by 100bps to 4.75% on July 6th, 2022, beating market consensus of a 75-bps hike and pushing the borrowing costs the highest since July 2013. It was the sixth consecutive rate-hike since the central bank started policy normalization process from last October and the largest one-time move since the 2008 financial crisis, as the Central bank sought to catch up with eastern European peers who have battled inflation with a series of rate-hikes. In Romania, inflation surged to near 19-year high of 14.49% in May. The central bank expects inflation to rise more than expected in short-term and to remain in double digits until at least the second quarter of next year. The lombard rate and the deposit facility rate were also raised by 100 bps each to 5.75% and 3.75% respectively.
2022-07-06
Romania Hikes Rates for 6th Time
The central bank of Romania raised its key monetary policy rate by 75bps to 3.75% on May 10th 2022, the sixth consecutive hike since October, and pushing borrowing costs to the highest since 2014. The inflation outlook worsened and policymakers expect the inflation to continue to rise in Q2 and decline only gradually in the next four quarters. On the GDP front, the latest data point to a slight re-acceleration of economic growth in Q1, but the GDP is seen nearly stalling in Q2, due to the impact of the war in Ukraine and sanctions. The lombard rate and the deposit facility rate were also raised by 75bps to 4.75% and 2.75% respectively.
2022-05-10