Romania continues tightening cycle with 75bp rise

Eighth consecutive increase comes as headline inflation passes 15%

national bank of romania
National Bank of Romania

The board of the Romanian central bank ordered a 75 basis point increase in the policy rate on August 5, the eighth in a row. This brings the headline rate to 5.5%.

The current cycle of rate increases began last October and, with the latest decision, now amounts to 425bp of policy tightening. Some economists had expected a 100bp increase at the latest meeting, to match the July rate adjustment.

The National Bank of Romania said rising fuel costs and the appreciation of the US dollar were

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