Romania cuts rates as rising Covid-19 cases hurt economy
The National Bank of Romania cut its policy rate today (August 6), saying the country faced major risks from the resurgent Covid-19 pandemic.
The central bank’s board said it had decided to cut the policy rate by 25 basis points to 1.5%. It said Romania’s economy faced “extremely high uncertainty”.
The major source of economic risks “remains, at least in the short run, the coronavirus pandemic – which has resurged of late – and the associated containment measures”, the statement said. Romania
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