Romanian central bank governor, heard by Senate committees on inflation

Romania’s National Bank (BNR) governor Mugur Isarescu and the other members of the BNR board have been invited to a meeting with the Senate’s economy and industry committee on Thursday, March 29. The theme of this hearing is the evolution of inflation and its implications for Romania’s economy, according to the committee’s website. Romania’s annual inflation rate spiked to 4.72% in February this year. The central bank responded to the increasing inflationary pressure by increasing the monetary policy rate two times this year, from 1.75% per year to 2.25%. The inflation rate evolution also triggered reactions from the ruling coalition’s politicians. Prime minister Viorica Dancila, finance minister Eugen Teodorovici and Social Democratic Party (PSD) leader Liviu Dragnea, who is also the Chamber’s speaker, said they would ask BNR governor Mugur Isarescu for explanations on inflation. The BNR board of directors is voted by the Parliament every five years. editor@romania-insider.com