First Romanian policy hike in a decade

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The National Bank of Romania hiked its policy rate for the first time in a decade today (January 8), citing inflation in excess of its forecasts and a booming economy.

The central bank’s board chose to raise the policy rate 25 basis points, to 2%, and the deposit and lending rates by the same amount, to maintain a corridor of 1 percentage point on either side of the main rate.

In a statement on its decision, the board notes inflation moved up sharply to 3.2% in November 2017, having been at 1.

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