Romania hikes for fourth-straight month

The National Bank of Romania has hiked rates by a quarter-point to a fresh three-year high despite the central bank's governor claiming less than a fortnight ago that rates were high enough.

Inflation climbed to 8.6% in March, more than double the central bank's target. However, Mugur Isarescu said on 24 April that the central bank should not "exaggerate" the problem by hiking rates.

"I don't see commitment and significant dedication from other countries where inflation has picked up," the go