Romania orders first rate increase in more than three years

national bank of romania
National Bank of Romania

The National Bank of Romania ordered a 25 basis point increase to the policy rate, taking it to 1.5%, on October 5. It marks the first change to interest rates since January, and the first increase since May 2018.

The central bank’s nine-member board also raised the deposit and Lombard rates by 25bp, to 1% and 2%, respectively. Reserve requirements are unchanged.

The NBR cited rising and above-target inflation in making its decision. It said inflation had reached 5.25% in August, up from 4.95%

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