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Romania raises benchmark rate to 3.75% as inflation outlook worsens


© Reuters. FILE PHOTO: A man walks in front of Romania’s Central Bank headquarters during a news conference of the International Monetary Fund (IMF)’s Romania mission in Bucharest January 29, 2013. REUTERS/Bogdan Cristel

BUCHAREST (Reuters) – Romania’s central bank lifted its benchmark interest rate by a more than expected 75 basis points to 3.75% on Tuesday and warned inflation would remain in double digits until the second half of 2023.

The bank raised its lending facility rate to 4.75% from 4.00% and its deposit rate to 2.75% from 2.00%, and said it would retain firm control over market liquidity.

A majority of analysts polled by Reuters had expected a 50 basis points hike, while some saw a bigger one percentage point raise.

Romania’s central bank boosts key interest rate to 3.75%

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