Romania hikes rates to 8%

The National Bank of Romania's rate-setting board on Monday voted to raise the benchmark monetary policy rate by 50 basis points to 8%.

"The National Bank of Romania's board believes that the persistence of demand-side pressures, along with prospects for prolonged effects of supply-side shocks, as well as the risks related to a possibly significant deterioration of inflation expectations require a tighter monetary policy stance," the central bank said.

To further control prices, the central ba

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