Romania’s central bank has continued its monetary tightening cycle at a slower pace, raising its policy rate by 50 basis points to 6.75% on November 8.

The decision was the 10th consecutive hike in 13 months, and the smallest rate increase the National Bank of Romania has made since last April. The last four rate increases have been either 75bp or, in July, 100bp.

The central bank board said headline inflation reached 15.9% in September, an increase of more than half a percentage point from