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|07 May 2018, 1:54 PM|
By Andra Beltz
The Board of the National Bank of Romania (BNR) has decided to raise the benchmark interest rate to 2.5% from 2.25% per annum beginning 8 May, a release of the central bank.
The key rate has been unchanged since February 2018, when it was raised to 2.25 pct per annum.
The monetary authority also decided to increase the deposit facility rate to 1.5 pct per annum from 1.25 pct per annum, and to put up the lending facility rate to 3.5 pct per annum from 3.25 pct per annum.
The minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions stay unchanged at the current level.
Most analysts appreciate the NBR's measure as a necessary measure to curb the rise in inflation since the beginning of 2018.
At the same time, government authorities believe that the NBR's intervention is welcome to halt the excess of rattle groups, especially in the food sector, to artificially raise consumer goods prices.
The decision will also affect bank lending to individuals, with bank credits being more expensive starting in the second half of 2018.
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