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.