The National Bank of Romania lowered its benchmark interest rate by 50 bps to 2 percent at a surprise meeting on March 20th, bringing borrowing costs to its lowest since January 2018. Policymakers said the move aims to mitigate the impact of the situation generated by the coronavirus outbreak on households and Romanian companies. The lending facility rate lowered to 2.50 percent from 3.50 percent and the deposit facility rate was kept at 1.50 percent. Due to elevated uncertainty surrounding economic and financial developments, the central bank also decided to suspend the previously announced calendar of monetary policy meetings and hold monetary policy meetings whenever necessary.
Interest Rate in Romania averaged 5.28 percent from 2005 until 2020, reaching an all time high of 12.50 percent in May of 2005 and a record low of 1.75 percent in May of 2015. This page provides the latest reported value for - Romania Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Romania Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.
Interest Rate in Romania is expected to be 1.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Romania to stand at 1.50 in 12 months time. In the long-term, the Romania Interest Rate is projected to trend around 2.25 percent in 2021 and 3.00 percent in 2022, according to our econometric models.