The National Bank of Romania lowered its benchmark interest rate by 25bps to 1.5 percent on August 5th of 2020, bringing borrowing costs to its lowest on record. The annual inflation rate rose to 2.6 percent in June, and policymakers expect it to remain stable in the upper half of the target range until the end of the year. The lending facility rate was also lowered to 2 percent from 2.25 percent and the deposit facility rate to 1 percent from 1.25 percent. Given the elevated uncertainty surrounding economic and financial developments, the NBR Board decision to suspend the previously announced calendar of monetary policy meetings remains in place and monetary policy meetings will be held whenever necessary.
Interest Rate in Romania averaged 5.20 percent from 2005 until 2020, reaching an all time high of 12.50 percent in May of 2005 and a record low of 1.50 percent in August of 2020. 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 October of 2020.
Interest Rate in Romania is expected to be 1.50 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 1.75 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.