Etichetă: inflation rate

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Decisions on monetary policy

According to the press release of National Bank of Romania, in its meeting of 7 February 2020, the Board of the National Bank of Romania decided the following: to keep the monetary policy rate at 2.50 percent per annum; to leave unchanged the deposit facility rate at 1.50 percent per annum and the lending facility rate at 3.50 percent per annum; to cut the minimum reserve requirement ratio on foreign currency-denominated liabilities of credit institutions to 6 percent from 8 percent starting with the 24 February – 23 March 2020 maintenance period and to maintain the minimum reserve requirement ratio on leu-denominated liabilities at 8 percent.

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Developments in inflation

The National Bank of Romania has published the Inflation Report for November 2019. As shown in the report, the annual CPI inflation rate returned to the upper bound of the variation band of the flat target of 2.5 percent ± 1 percentage point, ending 2019 Q3 at 3.49 percent (0.35 percentage points below the June level and 0.2 percentage points below the latest forecast). Behind the disinflationary trend stood mainly the declines in vegetable prices amid a good harvest across the EU. Opposite influences stemmed from tobacco product prices and the slightly faster growth of the adjusted CORE2 inflation rate, indicating the persistence of inflationary pressures from fundamentals.

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NBR – decisions on monetary policy

As shown in the press release following the meeting of 2 April 2019 of the National Bank of Romania Board, the following was decided: to keep the monetary policy rate at 2.50 percent per annum; to leave unchanged the deposit facility rate at 1.50 percent per annum and the lending facility rate at 3.50 percent per annum; and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.

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