Romanian central bank accelerates policy tightening

Board raises rates by 50bp and warns liberalised energy prices are likely to boost inflation further

National Bank of Romania
The National Bank of Romania
Photo: National Bank of Romania

The National Bank of Romania’s board raised its main policy rate for the fourth consecutive meeting, in the biggest hike of its current cycle.

The nine-member board raised the monetary policy rate by 50 basis points to 2.5%, having raised it by 25bp at the three previous meetings. It published a revised forecast showing “a considerable worsening of the short-term outlook for inflation”, driven mainly by supply-side shocks, mainly from energy prices.

The central bank said it expected annual

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