Romania’s central bank board has decided to lower its intervention rate by 0.06 percentage points to 20.19% in a move to control inflation.
“The measure is in line with the central bank’s strategy drafted in early August aiming to lead at the targeted inflation of 14% this year,” a central bank statement said.
The new level of the intervention rate will enter in force once it is published in the country’s official gazette.
The central bank has raised the intervention rate three times since August for drained deposits from 18.25% to 20.25%. The move was seen as balancing the negative effects of bulging non-governmental loans on the country’s trade balance.
Source: Invest Romania
