National Bank of Romania

The Board of Directors of the National Bank of Romania (BNR) on Wednesday's meeting decided to keep unchanged the monetary policy rate at 2.50 percent per annum, according to a press release sent to AGERPRES.

The annual inflation rate increased in August to 5.1 pct, from 4.56 pct in July, when the prices of non-food goods rose by 6.78 pct compared to the same month last year, the food products by 4.15 pct and services by 2.61 pct, according to data released on Tuesday by the National Institute of Statistics (INS).

The National Bank of Romania (BNR) is not jubilant and does not pride itself for having won the war, it's just a battle victory, as inflation is starting to go down, but inflationary pressures persist, governor of the National Bank of Romania (BNR) Mugur Isarescu said on Wednesday at the presentation of the Report on Inflation.

The current account of Romania's Jan. - May balance of payments ran a deficit of 3.018 billion euro, up 15.8 percent from the 2.606 billion euro registered in the same period of 2017, the National Bank of Romania (BNR) said in a release on Monday.

Romania's inflation rate stood at 5.4 percent in June 2018, slightly declining by 0.01 percentage points compared to the previous month (5.41 percent) due to a 3.86-percent increase in prices for food, a 7.82-percent increase in non-food prices and a 2.58-percent increase in service fees, according to the data published on Wednesday by the National Institute of Statistics (INS).

Monthly inflation in Romania advanced to 5.2 percent in March 2018, from 5 percent the month before, on a 7.2-percent increase in prices for non-food goods, a 4-percent increase in food prices and a 2.83-percent increase in services fees.

A higher annual inflation rate was recorded in June 2013, when consumer prices rose by 5.37 percent.

The National Bank of Romania (BNR) has revised the inflation forecast for the end of this year to 3.6pct, BNR Governor Mugur Isarescu said on Wednesday.

The previous forecast indicates an inflation of 3.5pct in 2018.

For the end of 2019, the BNR estimates an inflation rate of 3pct, down 0.1 percentage points.

The Board of the National Bank of Romania (BNR) has decided to raise the benchmark interest rate to 2.5 pct from 2.25 pct per annum beginning 8 May, a release by the central bank sent to AGERPRES on Monday informs.

The key rate has been unchanged since February 2018, when it was raised to 2.25 pct per annum.

President Klaus Iohannis met on Wednesday the management of the National Bank of Romania (BNR), represented by Governor Mugur Isarescu and First Deputy Governor Florin Georgescu, underscoring that the independence of BNR in terms of monetary policy decisions is essential, and both the Government and BNR should avoid competing approaches.

The National Development Fund will create corruption due to its nature and will bring nothing good, said on Tuesday Lucian Croitoru, advisor to the Governor of the National Bank of Romania (BNR).