Romania’s National Bank (BNR) decided in its board meeting on Wednesday, July 6, to increase the monetary policy rate by 1 percentage point to 4.75% per year. Macro analysts were anticipating an increase of 0.75 pp.

The central bank’s move comes amid surging inflation in Romania. In May, the annual inflation rate climbed to 14.5%, from 13.8%. Estimates for June indicate that the consumer price increase in the last 12 months may have accelerated to over 15%.

editor@romania-insider.com

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